SPREAD Brent WTI 1D

Updated
My second idea.
First I have to write here the usual disclaimer, what ever you read is my idea and way of trade and you are not invited by me to do the same but only to give your opinion, comments, for learning pourposal.

This is a method that I like as it is a different way to trade. It is not very common to see it used here in Trading view.

The price action or tecnical analisis are considered in this system in very limeted percentage, some times close to 1 digit.
The basic consideration, I believe well known to many of us, is that normally there is a difference in price between the 2 different type of OIL storically ranging between 5 to 10 $.
Depending on different reasons in market there is a flutaction in this difference.
Today it is ranging between 3,5 to 4 $.
The trade is compose of 2 positions.
LONG of Brent at 76,9 for me. UKOIL
SHORT WTI at 73,325 for me. USOIL
Difference or SPREAD is at the moment of position opening at 3.575.
Price of both will go up and down, profit or lost will be generated by difference between the 2 position (+ the normal opening position spread).
I will lost in case the 2 price will narrow bringing the spead below 3,5.
I will profit in case the 2 price will increase their spread. My TP will be at 6. SL theoretically is nil = 0 becouse, for market reasons, the price of the 2 oil cannot be the same as WTI include a much more costly production method. SL will be if SPREAD will go below 2.

Enjoy the trade.
Trade active
Just quick update.
Brent Long at 76,9 at the moment is 72,76 in Loss of 414 pips.
WTI Short at 73,325 at the moment is 67,63 in Gain of 569 pips.
Spread between the 2 oils is 72,76 - 67,63 = 5,13
Previously was 3,575.
Positions are giving a net Gain of 155 pips.
Trade are active till TP with spread at 6.
Trade closed: target reached
target reached and trade close.
impossible to show here on trading view (perhaps I don't have that skill require to show it).
With rollover of future or CFD (what ever you are using) you arenot getting the same rading in quotation.
If you check my record for the opening of position the same numbers you cannot find in this chart. The difference of 3,575 it is now equal to nearly 10,5. No sense.
Sorry for those that follow me in this but I cannot explain more than this.
Trend Analysis

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