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Audcadanalysis

AUDCAD pullback before continuationAUDCAD has seen a significant decline since meeting the upper trendline resistance, as predicted in the previous idea shown below. Price has seen a pullback to an area of previous support but in my opinion we are still in a bearish wave and this small correction is an opportunity to get in before the wave continues down. We are already seeing rejection from this area, this is an opportunity to look for price action signals for a short position. On the chart is a conservative target but with a stop loss above this area of previous resistance around the 0.91600 mark, this would still represent approx 1.5 R trade. NOT financial advice, make your own trading decisions.
Short
by HayeTrading
30
AUD/CAD: Market balanced since a while!Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the AUD/CAD , translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies. Weekly timeframe: Daily timeframe: 4 hours timeframe: The market is still trending to the downside, currently moving inside a fair value area with sellers still slightly in control. As you can see on the chart, an intraday bearish impulse pushed the price down, breaking a local key level and is currently retesting the lower value of its area, closed to an interesting demand zone, level of price where the market could find buyers pressure ready to step into the market. When, where and why would I step into the market? Usually, big fair value areas like this, are definitely tradable with a good strategy! However I wound not entering with any long position until the overall perspective will be bearish. With a good demand, a possible rejection is expected and a movement from the lower value to the price control is most likely to happen. The trading activity is quite balanced, and in this kind of scenario I would definitely be waiting for the price to reach the top of the value area and then eventually planning a short position to entry with the majority!
At the moment this trade idea is only a directional forecasting and no action will be taken! If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses! Trade safe and responsibly, Gianni DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
by UnknownUnicorn18552923
20
AUDCAD Short OpportunityHey, if you like this idea be sure to support with a like and a follow. Here is my analysis for AUDCAD for the upcoming week, wait for price to pullback to retest resistance and take a short down to the next support area . What are your thoughts? Leave it in the comments below! Blue Signal FX Rules-Based Trading 1. CHECK THE NEWS! 2. WHAT IS THE OVERALL TREND? 3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 6. CHECK FOR DIVERGENCE.
Short
by bluesignalfx
1
AUDCAD - A pitstop before further fall? In our previous idea we predicted a drop after bouncing off the upper channel line, which we've seen the beginnings of. AUDCAD still appears bearish, but we are entering a Demand Zone that could create a bounce or choppiness, which might give those who didn't get short the chance to do so at a better price, if they also believe that price is likely to head toward the bottom of the channel, in line with the overall bearish trend on the higher timeframes. Those already short may choose to take some profit off the table to reduce risk, with a plan to re-enter at a better price.
Short
by HayeTrading
22
AUD/CAD---CONTINUE THE DOWNTRENDThe Australian dollar initially tried to rally against Canadian dollar this past week, but as you can see, we continue to see a lot of selling pressure near the 0.93 handle. We have been grinding lower for a while and it now looks like we are getting ready to rollover to continue the overall downtrend. This does make a certain amount of sense, considering just how strong crude oil suddenly is. At this point, I anticipate that this market will revisit the 0.90 level.
Short
by SmoothJB
2
AUDCAD rejected at resistance and headed lower. Since it's multiyear high in Feb, AUDCAD created lower lows and lower highs in April and has continued bearish ever since with a string of consecutive lower highs and lower lows. We have 2 clearly defined and repeatedly respected trendlines headed lower, created a broadening descending channel. Price has has multiple attempts to break through this resistance since December 23rd and has failed, most recently with a tweezer top. Overall this looks like a great opportunity for a high R short with a stoploss above the trendline/tweezer high. This is not financial advice, you are responsible for your own trading decisions. *** LEAVE A LIKE AND FOLLOW IF YOU ENJOYED THE IDEA *** I will respond to any and all comments below
Short
by HayeTrading