I think it might be a good time to trade this pair, short oil , long cad. You can size each leg based on volatility , to risk 1% per side, if price moves against you by 3 times the average true range value of each instrument. Once the spread closes or is close to closing you can get out of both trades.
Acting well, CAD outperforming oil.
Exit CAD longs, hold oil short.
Trade closed manually:
Oil didn't top yet, and it's unclear how it'll evolve from here, better be flat.
I reshorted oil after it turned down today.
The spread will probably close, but I think it means oil will drop faster than CAD for a while.
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