UPDATE:We are hitting the long term target hit here. Will we continue to the further lows? Or will we bounce back up for the time being? If we do come back up again, I will be waiting for another opportunity to short again, nothing more.
When trading this it is worth watching USDCAD with this trade, as it will inevitably move hard when Oil breaks the 2009 lows (I suspect Oil will grab a lot of momentum when it breaks the 2009 lows because it will provide a rare technical opportunity to short Oil off of high probability momentum.
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Best of luck
Interested to hear your take.