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Audcadforecast

AUD/CAD Retrace To SupportThis is just short of the TP I set on this pair in my previous post but personally I have closed the trade, I think this is going to retrace soon as it is now overbought on 4HR and daily timeframes. It may still hit that TP but I prefer to secure the profit as a lot of AUD pairs are looking overbought. So now I will monitor this pair for a retrace to the support area highlighted. If there is a rebound from there a long can be taken to either the previous TP at 1.0000 or a new high of 1.00482. There is a lot of resistance in the red area marked above so I am setting the TP reasonably low as this could have a fairly big rejection considering how sharp the rise has been
by olly48
AUDCAD - Buy Entry - D1 Daily ChartAUDCAD - Buy Entry - D1 Daily Chart Buy @ Current Market Price or on a pull back into the Buy Zone Stop Loss @ 0.5% to 1% of your Account Balance Take Profit @ I will update when to close - Follow me to receive updates ✅ Please support the idea with a Like 👍 Follow me to receive updates of this analysis, plus new ideas ✅ Thank you for your support 😊 Wishing you successful trading 🙏 ------------------------------------------------------------------------------------ 🔺 Disclaimer! The content of this analysis is subject to change at any time without notice. 🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions. 🔺 You must do your own research to create your own trading plan for the market. ------------------------------------------------------------------------------------
Long
by UnknownUnicorn5418842
AUDCAD | Perspective for the new weekIt appears that the rally that began early Dec 2020 has found a reversal point as the appearance of a Double Top structure becomes visible. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern (Double Top) | Breakdown | Supply & Demand Observation: i. DT: Bearish technical reversal pattern forms after the price reaches peak @ CA$0.99000 two consecutive times with a moderate decline between the two highs. ii. The Breakdown of Bullish Trendline @ CA$0.98400 emphasizes a change in direction as price action disregard Trendline. iii. I shall be patience to watch out for weakness in the strength of buyers at the Demand zone (CA$0.98000) which is also the Neckline for signal confirmation. iv. Please note that a significant breakdown of Demand zone might see the price go into a correction phase where buyers will try to push the price up from this level one more time; when this happens, CA$0.98200/0.98400 shall be a Sell window for me in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
5
AUDCAD - buy after Preconditions: - key level; - accumulation; - wait for grown; You will learn the best place where we can trade this instrument at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
6