AUD/CAD Short opportunityHi guys,
Here is my view on AUD/CAD.
Zoom out to see a clearer view. Analysis is based on the weekly timeframe.
Audcadsetup
AUDCAD Potential long however due it finishing with exhaustion candle i am expecting a pull back to retest structure before going long. This potential long looks good due to the market breaking the weekly counter trend-line. However we do not know how far the pull back will be so therefore we will wait and see. I have used fib extension to show me area of high confluence where i think the market will pull back and fill more order before continuing the long trend.
AUD/CAD 100 Pips Oportunity - Bullish ContinuationAUD/CAD has consolidated in the 0.98 area for the past 2 weeks and does not seem to want to go back down.
This could potentially very well be a bullish continuation pattern if the current support holds.
We can expect it to go up at least 100 pips as soon as it breaks upward.
As always, I would like to remember you that risk management is key in success in this business.
Happy trading!
AUDCAD right on pullback support!AUDCAD is now back to pullback support where it previously broke out from. A possible bounce could occur at this level above major support at 0.9782 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a rise towards 0.9876 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) is making a similar pullback to ascending support where a corresponding bounce could occur too.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD surpasses major resistance!AUDCAD has finally surpassed its descending resistance-turned-support line triggering a potential bullish move from here. Our main area of support remains at 0.9782 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could push price up possibly to 0.9876 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) has surpassed our descending resistance-turned-support line triggering a potential bullish exit from here.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD preparing for a strong bounce
AUDCAD is seeing major support above our 0.9782 zone (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur above this level to push price up to major resistance at 0.9876 (Fibonacci extension, horizontal swing high resistance). We are seeing intermediate resistance with our descending resistance line and price would need to break past that level to gain further bullish momentum.
Stochastic (34,5,3) is seeing major support above 1.7% support but also sees intermediate resistance with our descending resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDCAD LONG!Okay, so this is a bit of a late post but the analysis is great and this is an easy, lemon-squeezy set up, so i figured I should post it regardless,
Price has broken out of it's daily descending channel and as we know, after momentum comes exhaustion or a corrective structure, which is what we've got here. Price retraced to retest broken resistance as new support + the trendline and this is all confluent with a fib level.
AUDCAD getting ready to do the most, Apply lots of patienceDemand Zone ... Weekly and Daily price action ...RSI confirmation .....
and AUD generally being more Bullish all round ...
credit to trader @jp1981 , cos we share similar sentiment
www.tradingview.com
AUDCAD At Weekly Trend LineWatching the weekly chart as the successful test of this trend line may provide a great buying opportunity.
Aud/Cad Cypher Pattern LONG for D leg then SHORTWe aim for D leg completition with a good R:R . Then Short. Good luck...
Trend & Structure on AUDCADHey guys,
this is the 4hr chart on AUDCAD and, as you can see, price has managed to break and close below a key support level (on the daily) @0,9950. Since this happened, we can now expect to see support turning into resistance, following the trend established in the downward direction. This zone also helps us creating a comfortable area where we can have good stops and good potential reward, with a nice RR ratio. The yellow box signals the are where i'm going to consider a short opportunity.
If you want to ask questions or comment, feel free to write below.
Otherwise, see you in the next chart!
Read the Trend on AUDCAD!Hey guys,
this is the 4hr chart on AUDCAD and, as you can see, price has managed to break and close below a key support level (on the daily) @0,9950. Since this happened, we can now expect to see support turning into resistance, following the trend established in the downward direction. This zone also helps us creating a comfortable area where we can have good stops and good potential reward, with a nice RR ratio. The yellow box signals the are where i'm going to consider a short opportunity.
If you want to ask questions or comment, feel free to write below.
Otherwise, see you in the next chart!
Double Bottom at Structure!Hey guys,
here on AUDCAD price is testing a key support level that pushed prices higher in the past. Therefore i can expect a reaction at this level on lower timeframes, such as a double bottom with RSI divergence like it's happening on the 4hr chart. At this moment price is also creating a nice engulfing candle that could additionally confirm our view. With stops below the lows and target as shown it could be a good buying opportunity. But i'm waiting to see next candle. Keep you updated!
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Structure trade on AUDCAD!Hey guys,
here on AUDCAD price is testing a key support level that pushed prices higher in the past. Therefore i can expect a reaction at this level on lower timeframes, such as a double bottom with RSI divergence like it's happening on the 4hr chart. At this moment price is also creating a nice engulfing candle that could additionally confirm our view. With stops below the lows and target as shown it could be a good buying opportunity. But i'm waiting to see next candle. Keep you updated!
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
AUD/CAD showing exhaustion, trend reversal, long entryHi guys,
A typical pattern appeared again: The Australian Dollar is showing exhausting and a possible trend reversal is on the way.
A double bottom appeared with an RSI divergence. I will wait until the candles break the 20 SMA and close above it in order to enter.
This analyzis has been done on the 4H chart.
Thank you for reading :)
Ray
AUDCAD Long off SupportAnother quick trade, AUDCAD sitting on support, let's hope it moves to the next resistance. Entry details are below, good luck and have fun!
ENTRY: 1.00525-1.00360
TP 1.01140
SL 1.00300
AUDCAD QUICK 30 PIPS ! SELLYOU SEE THE CONFIRMATIONS THAT THIS PAIR GAVE SO WE CAN GO EASY AND MAKE A SMALL PROFIT TODAY AND LONG TERM ALSO
AUDCAD 1H TECHNICAL ANALYSISWe see 100 PIPS down from current level and than 200 PIPS up.
We take long position but from 0.9970.
Risk lovers can Short from 100 PIPS from current level.
Let's Watch !!
