Audcadsetup
AUDCAD shortAfter almost the second day of the market, most of the empty spaces were filled
Now we can look at audcad in descending order
In the range I drew, we can wait for Sell's position, but with confirmation ...
I will not enter lower timeframes without confirmation
The meaning of confirmation in lower time frame is that, for example, in 15 minute time frame, it can give us a sign of falling from that range.
AUDCAD - A beautiful series of 1-3-5 patternsAUDCAD is producing a beautiful series of consecutive 1-3-5 patterns.
All with lower highs and lower lows.
1st set in Orange
2nd in Purple
3rd in Green
4th in Blue heading toward completion.
We are looking for a stunning reversal at the completion of Blue 5 (if price gets there).
Right now market has a fib ext of 2 so we can expect some short term buying perhaps but if this price drops below the last low (blue 3) we can staring looking for the LONG.
AUDCAD | Perspective for the new weekThe scope of a very strong bearish momentum on the daily time frame and a reversal set-up (double top) within the major supply zone at C$0.92400 shares a confluence with the bearish trendline to signal a selling opportunity for us in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Supply & Demand | Trendline | Reversal pattern (Double Top)
Observation: i. Despite a long term bearish momentum identified on the higher time frame, the last 30 days witnessed a consistent rise in the value of the Aussie over the Canadian dollar but the momentum appears to be thinning out and this can be identified on the chart as a double top structure.
ii. Attempts made by buyers to break above C$0.924 was met with strong resistance during last week's trading session to insinuate that the bullish trendline may no longer be strong enough to hold price action above it.
iii. It is worthy to note here that, the reversal set-up (double to pattern) awaits confirmation at the breakdown of key level @ C$0.91600 to incite the risk of a decline in price value in the coming week(s).
iv. In this regard, I shall be waiting to take advantage of selling the Aussie anywhere below the key level @ C$0.916000... Trade consciously!😊
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:3
Potential Duration: 3 to 8days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
AUDCAD: Typical Price-Action Sequence Short!
As mentioned in previous ideas, AUDCAD has succeeded one Buy-zone and is in the process of gaining entry to a secondary Buy-zone.
However! A major pull-back is due. "Typical Price-Action Sequence" is one example of anticipated pull-back-trade-setup.
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AUDCAD Long1D
-Price reached Daily support level and made a fake break on third touch before closing back above.
there's inverted h&s pattern with a broken neckline waiting for retest.
4H
Currently the structure is bullish, the price broke and closed above resistance level and made two touches of trend line.
I'm waiting for retest of support and Signal to go Long.
AUDCAD is reaching a KEY level for a SELLHi Traders,
AUDCAD has been making bullish continuations over again however it failed to continue its momentum higher as it made a reversal Impulse and then correctively moved within an ascending channel. As we know this type of channel shows a reversal is imminent and we are approaching a double top level to add confluence to this short position.
Looking at price action for confirmation.
Follow your plan and entry criteria.
Good luck
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AUDCAD FOR MORE BUYSFollowing the last update on this pair, we have seen more upside continuations.
Price is forming a higher low around 0.91600. We had the first bounce of the level, so if we get a second bounce and not crack below it, I'll be following longs to continue the hourly trend to the upside.
Uptrend, pullback/higher low formation, these confluences are key to taking our long positions on this one.
AUDCAD Multiple Opportunities
First approach is to confirm price rejection DOWN to Buy-zone.
Next approach is to confirm price rejection to UPSIDE Targets.
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AUDCADThe Australian dollar has rallied a bit during the week, but it is obvious that the downtrend line will come into the picture next. If you look at the chart, you can see that this downtrend line has been very reliable over the last several months, and at this point it still looks as if we are going to continue that pattern.
AUDCAD | Good Sell Opportunity.When it comes to AUDCAD technical analysis, this currency pair is right now in a downtrend.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
AUDCAD 4Hr Long!
Overview:
Price has completed very important tests at 0.90297.
Currently, price is trading inside 0.89694 | 0.91411 Buy-zone.
From its current Buy-zone location, price could present Buy-entries by pulling back to a 50% retracement price--
Or
Price could advance for tests at Target 0.94720
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