USDCAD: With oil rising...
Updated
I think we can get a rapid selloff in USDCAD, given how volatile it is. I entered shorts on Friday with tight stops, and looking to add at market open. It also serves as a hedge against my other positions, short SEK and JPY. My currency positioning is as follows: long USD, AUD, CAD, short SEK and JPY.
Fundamentals might create interesting opportunities, both long and short in majors, so I'm open to hedging my profitable trades and keeping balanced positions between currencies.
(USDSEK and EURSEK are in good profits now for instance)
I'm open to shorting oil against this position additionally, but not right now, when it's expanding the daily range shooting up.
Good luck,
Ivan Labrie.
Fundamentals might create interesting opportunities, both long and short in majors, so I'm open to hedging my profitable trades and keeping balanced positions between currencies.
(USDSEK and EURSEK are in good profits now for instance)
I'm open to shorting oil against this position additionally, but not right now, when it's expanding the daily range shooting up.
Good luck,
Ivan Labrie.
Note
Acting well here.Note
I don't like the rebound, it might remain choppy for a while, I'd reduce exposure or exit. I am covering for now, due to risk management parameters, but the trade remains valid while below the reccomended stop, just that it's not quite gaining traction yet.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Related publications
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.