AUDCAD: Good chance to go long given the spread in oil vs copper
I think we've reached a point where the huge spread between oil and copper will close, this type of scenario favors an 
AUDCAD long position. The chart is constructive already, so, it could end up flashing a nice trend signal from here. I'll be looking to enter longs at market open, and exit once the spread is closed once more.
You could also trade the pair, long copper, short oil, either weighted based on volatility, or equal dollar weights on each leg.
Best of luck,
Ivan Labrie.
AUDCAD long position. The chart is constructive already, so, it could end up flashing a nice trend signal from here. I'll be looking to enter longs at market open, and exit once the spread is closed once more.You could also trade the pair, long copper, short oil, either weighted based on volatility, or equal dollar weights on each leg.
Best of luck,
Ivan Labrie.
Trade closed: stop reached
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🔒Want to dive deeper? Check out my paid services below🔒
linktr.ee/ivanlabrie
linktr.ee/ivanlabrie
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.