I think we have an ideal spot to short both USDCAD and USOIL as a pair trade (or just short USDCAD with a 3 average true range stop loss). I'd reccomend sizing each leg to risk 1% if price goes against you by 3 times the average true range in the daily chart and holding it for roughly one month, at least.
Good luck,
Ivan Labrie.
Trade ist aktiv
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Kommentar
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Going well, the pair is up 0.82%, if only in oil you're up 1.22%.
I TOTALLY AGREE HERE... Something big is about to happen...
IvanLabrie
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@RobbyWestHouston, indeed...there's some big move brewing, capturing the volatility will pay off.
RobbyWestHouston
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@IvanLabrie, That is what I am trying to figure out right now... do I short AUD/CAD... is it better to short NZD/CAD...or just stick with only shorting USD/CAD.... What is the best play on CAD pairs... I do not know what would be the best play here... So whats your cut... is it just USD/CAD you think has the best shot here... I really do think if done right you could 2 X or 3 X your account if you catch the move... I think the move is fixing to start this month...my opinion...
@IvanLabrie, I think this summarizes my thoughts on AUDCAD...I'd short oil/cad.
IvanLabrie
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IvanLabrie
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Oil's speculators' long position is just insane...it's bound to get squeezed, and it'll be massive once it happens...so, short oil against all commodity spreads, or correlated currencies.
taming_the_mind
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Hi Ivan, where do u see support for USOIL? i.e. the final profit target here. Thx :)
IvanLabrie
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@taming_the_mind, hi, it depends. In the chart I posted now we have 3 targets based on the weekly. The daily support levels are at 48 and 45. If below those it could go a lot lower.
JRFreeze
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Any thoughts on Copper while we are here?? I went long ont he breakout but seems to have shot me in the foot...