EURCAD - Short - possible tripple top on a bigger time Scale.
Looking at the the EU and UC I could see this situation playing out.
On the one hand EU has a lot of room to move down. While UC already made most of it's big move and should retrace at some point quite a bit. All together this screams for a tripple top/ short eurcad.
The usoil price has to find a bottom to stop the UC rally in the first place. If it does eurcad is a great short play.
good luck Trading out there!
Taking a bit bigger position intialy since the risk reward ratio is amazing.
Looking at the the EU and UC I could see this situation playing out.
On the one hand EU has a lot of room to move down. While UC already made most of it's big move and should retrace at some point quite a bit. All together this screams for a tripple top/ short eurcad.
The usoil price has to find a bottom to stop the UC rally in the first place. If it does eurcad is a great short play.
good luck Trading out there!
Taking a bit bigger position intialy since the risk reward ratio is amazing.
Will Re-Enter once Oil shows a bottom.