Possible sell setup for AUDCAD- Price broke out of a weekly sell support and has been in a sell since February 2021.
- Price recently broke out of my 4hr sell resistance but seems to be breaking back under that trend line to continue with it's sell momentum.
- I'm waiting for price to break below the 1hr support zone I have highlighted and I am looking to take the sell after a retest of that level. My target will be the previous lower low of the 4hr chart.
Audcadanalysis
Can AUDCAD continue it's decline?This currency pair has been declining for a few weeks. We can tell by noticing the highest and lowest exchange rates as price decreases.
In this quick analysis video, I am sharing with you my thoughts on the next potential move for this currency pair.
I am not a financial advisor, but I do love creating content such as this via video or live stream for educational purposes.
I pray you all to have a great trading week and comment below your thoughts. Don't forget to like the video and follow me for more.
-Shaquan
AUD/CAD Running In 75 Pips Profits This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
AUD/CAD New Setup To Catch 100 PipsThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
AUDCAD Moving Towards 78.6 Fibonacci Level!!!AUDCAD has shown great bearish momentum after a huge climb previously. After which, we managed to see a strong BEARISH retracement.
Has the bearish strength come to a stop?
No, personally, I will be eyeing 78.6% fib level where will be a minimal retracement. Definitely, if we managed to see a breakout of that level, BEARISH strength could be heading all the way to 161.8% fib level. Having said that, I am still BEARISH on this pair and has yet to see any form of BULLISH strength taking over as of now.
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Possible setup for AUDCADPrice has been trending downward with clear lower highs and lower lows since the end of February 2021.
These are two possible scenarios that I see playing out.
I could buy when price breaks resistance and confirms the buy by retesting that broken resistance (now new support).
I could sell when price breaks support and confirms the sell by retesting that broken support (now new resistance).
Always wait on a retest to confirm the setup before any entry.
AUDCAD Short opportunity - Price respecting dynamic resistance
- Clear rejection of 61.8 fibonacci level, indicating transfer of momentum to sell side
- Clear bearish market structure with lower highs and lower lows, anticipating next impulsive move to the downside
- 1:6 risk to reward ratio for this trade, 2% risk as always