I think it might be a good time to trade this pair, short oil, long cad. You can size each leg based on volatility, to risk 1% per side, if price moves against you by 3 times the average true range value of each instrument. Once the spread closes or is close to closing you can get out of both trades.
Good luck,
Ivan Labrie.
Good luck,
Ivan Labrie.
Note
Note
Acting well, CAD outperforming oil.Note
Note
Exit CAD longs, hold oil short.Trade closed manually
Oil didn't top yet, and it's unclear how it'll evolve from here, better be flat.Trade active
I reshorted oil after it turned down today.Note
The spread will probably close, but I think it means oil will drop faster than CAD for a while.Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.