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Audcadanalysis

AUD/CAD SELL STOP at .8850AUD/CAD is carving out a classic M-Top candle pattern at resisance so a break of the neckline at .8850 will be a confirmed SELL. M-Tops and W-Bottoms are proof that you don't need indicators to trade. Indicators obviously help and I use them - but you don't NEED them. You'll be a successful trader if you just traded M-Tops and W-Bottoms. These patterns are traditionally traded on a 1:1 ratio with the STOP taken from the neckline to the top of the pattern and the TAKE PROFIT at 1:1 so the STOP is .8879 and the TP is .8819. As ever, these levels are not set in stone and you should always micro manage your trades and if you reach your take profit and the momentum is still with the position then adjust you TP accordingly. Similalrly with STOPS. A STOP is not necessarliy a line in the sand that should not be crossed. If price bounces but the overall structure is still in place then by all means squeeze the SL a bit higher rather than lose but be mindful that there MUST BE a line in the sand if price is continuing north and your're SHORT. The old adage "let your winners run and shut down your losers early" is for ever true.
Short
by forextraplaces
AUDCAD I Potential intraday short from top of the channel Welcome back! Let me know your thoughts in the comments! ** AUDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
7
AUDCADIn the AUD/CAD pair's daily timeframe, a bullish trend seems to be emerging. After completing a 61% correction following a breakout from a falling wedge pattern, the Elliott wave theory suggests a potential ABC pattern forming. This sequence typically indicates a continuation of the previous trend, signaling a possible upward movement in the pair's price action. Traders may look for confirmation signals to validate this bullish outlook before considering entry positions.
Long
by forex_info
5
AUDCAD Long - Multiple Time Frame AnalysisMonthly Time Frame Price made a bearish push until it closed as a doji candlestick found support at the weekly demand zone then made a bullish push After the bullish push price met resistance at a weekly supply zone ultimately forming a high. Price then began to sell off (retrace). Weekly Time Frame Price met resistance, formed a double top, and closed as a doji followed by a bearish engulfing signaling a selloff. During the sell-off (retracement) price found support at the 61.8 fib level and closed as doji candle stick signaling a potential reversal. 4Hour Time Frame I am anticipating price forming a double bottom as a candlestick reversal pattern. I am expecting a bullish push to 0.895
Long
by NoCeilingsTrading
DeGRAM | AUDCAD oppportunity to short the marketAUDCAD broke and closed below the psychological level at 0.8800 which became resistance. The market is making low lows and lower closes in the descending channel, an indication of bear dominance. Price action is likely to move down from the fibo cluster. We expect a trend-continuation trade since we have a bearish trend and divergence at the border of the descending channel. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
2
AUDCAD,🟢Bullish scenarios🟢 (Read the caption) Well, the price reached the extreme demand zone in the daily chart. As you can see the price created the liquidity pool above the demand zone and had a bullish reaction after sweeping the liquidity and hitting the demand zone. Now, we can expect two different scenarios for uptrend. 1. The price can start rising from here because it hit an important level and had a bullish reaction. 2. The price can re-test the lower demand zone that is clear and untouched. In both scenarios, we can define the previous high as a first target and the liquidity above equal highs as a final target. 💡Wait for the update! 🗓️31/01/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
1
AUDCAD Trade IdeaThe AUDCAD pair has reached a critical support level, marked by this horizontal line on our chart that corresponds to a previous daily open/close. The price is clearly overextended and we expect a correction soon. A potential trade setup may arise later today when the Canadian GDP data is announced. If the data is positive for the CAD, this could offer a good sell opportunity. We are eagerly awaiting this news release. Please note that this is only a trade idea and not a trade recommendation, the information is for educational purposes only and should not be considered as financial advice.
Short
by fxtraderanthony
DeGRAM | AUDCAD target for short from psychological levelAUDCAD is testing the psychological level at 0.89000 in the ascending channel. The market is consolidating on the 4-hourly chart, following the bearish move. Price is likely to move down from the kill zone since the market is consolidating. We expect a pullback from the resistance level and the continuation of the consolidation. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
1