AUDCAD: Interesting spread between copper and oil

We have a very interesting setup derived from the spread between oil and copper, also present in CADUSD and AUDUSD, due to the correlations with these instruments.
You can enter longs in AUDCAD and FCX, and short oil (be it CFDs, futures, ETFs, take your pick). You could replace by copper CFDs or futures as well, but FCX just happens to have a nicer looking chart.
We discussed this setup in the KHL chatroom earlier today.

Check out my updated track record here: pastebin.com/6CyyqnPT

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Ivan Labrie

Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.

Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.

Comment:

AUDCAD, dip bought, moving smoothly so far.

Comment:

This is a longer term position, let's wait and see.

Comment:

FCX looks good.

Comment:

CAD and oil are acting quite strongly, might send AUDCAD and the FCX/OIL pairs sideways for a while. (or oil/copper)

Comment:

Good progress, AUD is acting really strong due to copper.
Perfect really, I added to all trades.

Trade active:

This is the stuff, spread closed gents.