USDCAD: I'm a (brave) oil buyer

FX:USDCAD   U.S. Dollar / Canadian Dollar
2135 36
This is a quarterly resistance so I consider it interesting to try considering the downside potential in this juncture.
If we were to cross my stop, we'd have to see how it fares against the next red zone above.
I'm thinking this is a significant low in the stocks and oil , and thus, a great chance to short USDCAD when there're no oil bulls left. Someone's holding all these giant CAD positions, and it's bleeding massively, they have to get squeezed soon, and I think the time is now.

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Ivan Labrie.
Jan 17
Trade active: Seems to be working.
Jan 19
Trade closed manually: I covered at 1.445 today, didn't manage to update before.
Looks like we're headed up. If short and losing get out asap.
Target: 1.46981
Jan 19
Comment: (I'm long btw)
Jan 20
Comment: Closed long at 1.465, had stop at entry for remaining 25% of position (got stopped at BE)
Now it's looking a like a top here.
Feb 03
Comment: Talk about a good call...Shame my stop was too tight here.
Mar 06
Trade closed: target reached
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Agree with most recent comment - big time.
London selling, looking good.
M4B0X. M4B0X.
target hit:
Yes, currently a support. There's some upside left in crude though.
+1 Reply
You are very brave... I am also short too long oil... I do agree this should be a tech turn for a little bit. Do not know how much we will get out of it... will find out soon...
+1 Reply
Should look into XLE if you think we're reversing now
This one's a nicer trade...I also have TSLA longs already, and others in my portfolio. No need for XLE, personally.
Lanmar IvanLabrie
It is only nicer if your target is reached, which I think is far too ambitious at this time.
Targets are just systematic...I don't care if not hit, the stop is tight. Any multiple of my initial risk is money.
Lanmar IvanLabrie
I hear that
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