EASY DOLLAR $$$$$$$Waiting for Trendline break / Support to be broken then we are looking for sells to the green area
Audcadsetup
AUD/CAD Wave Analysis The counter has made a strong move from the low of 0.80 handle to 0.93 handle in just 3 months.
The move could be attributed to a 5-wave pattern and it is now in corrective mode.
It has completed waves A and B is going to kickstart wave C.
The resistance zone around 0.93 handle proves to be a tough nut for the pair despite trying to take it down thrice.
It makes a price action imminent and hence, we expect the pair to be bearish in the short-term.
AUDCAD Bearish on 4HPrice broke below channel so waiting for it to break below support at 0.9271 and close a 4H candle below.
AUDCAD - SELLWe are anticipating another sell from an AUD pair.. once price has broken this level we can sell all the way to the green area
Price has tested this level a few times and been rejected but i believe next week we will see a break and we can start a sell
AUDCAD - SELL
SL - 0.93810
TP - 0.91564
Proposed short AUDCADThe aussie has had a good run up, but it seems to me that it is now, running out of steam.
On the H4 charts of AUDJPY and AUDUSD you can see a topping kind of price action.
AUDCHF and AUDNZD may have turned around already.
The AUDCAD daily chart shows the significance of 0.9370 area and price being rejected there for a second day in succession. Price action on H4 also hints at a move to the down side.
The next Asian session due to start in the next 3-4 hours will provide more clues, I don't see much in the way of news release coming up.
Trading reversals can be hazardous, and not to forget the NFP tomorrow (Friday) so I will be reducing my position size.
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As always, please use sound money and risk management in all your trades.
AUDCAD-- sell market going sell strongly Hy! Smart Trader, Welcome to My Analysis and forecasting Section on Trading view.
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AUDCAD Long! Price-Action Narrative on DailyNote: Idea is to complement your research.
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Possible BUY on AUDCADNow you know how I feel about CAD pairs (they can be so volatile and create meaningless and annoyingly long wicks) so I would tread softly while trading this pair. Meaning, trade small with so you can be a little more liberal with your stop-loss. But this could be my coveted DIAMOND setup!
Here's why I'm interested in this trade...
possible counter-trend breakout if the bulls push the price over where I drew my trend line
price is trading above a pretty resilient 200-EMA
the MFI shows the price as being oversold in this trading period
the MFI also shows bullish-divergence in contrast with the lower-highs created by the charts price action.
the MFI is rising meaning the demand is rising. And price follows demand.
Be safe and do your own DD. I Will watch this... but I will NOT make a move until price shows strong bullish action.
H1 40pip stop loss. 0.91250 is a very important Weekly level.. The 0.91250 is the weekly chart's resistance, a very strong resistance at that too. Apologies on not posting it but please, do check it out yourself and you'll see what I'm talking about.
This H1 Flat Bottom Triangle pattern confirms for us that the bears are indeed back in town. A break and close below .91250 will be the bears expressing their willingness to drive price further downward.
Oh, one more thing.. stochastic is overbought on the weekly chart.
Enjoy your 100pips 😃👍🏆.
AUDCAD: Alternate angle on Daily, Long!
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AUDCAD: Daily; Price trading above Multiple Buy-Zones, Long!
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AUDCAD- SELL MULTIPLE CONFIRMATION Likes and comments if you want more trading setup. Thank you!
The price has often tested the
support, but it has failed, which
shows that it is a powerful spport.
I also got a positive sell response
when it went down.
At 0.9013 a spport was formed that
sent the price to the resistance,
but now it is going to break the
support from 0.9013.
