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Audcadsetup

AUDCAD now it's a buyHey guys, yesterday we took profit of our last AUDCAD trade that brought in more than 150 pips (see attachment). Now i changed my mind about this pair being the recent movements price has made. As you can see on the left hand side of your screen on the daily timeframe price is testing a daily structure level that acted as support. Being the case, we expect to see some difficulty breaking through. In the lower timeframe (4H-right hand side) price's put an engulfing candle with RSI OVERSOLD, right at that level which happens to be also a psychological number. With all those conditions met i think this could be a good opportunity to buy the market hoping for a retest of the higs at 1,070. Good luck! If you have any question, feel free to write below. Otherwise, see you in the next chart!
Long
by Roker1
2
AUDCAD back to structure: short time!Hey guys, this analysis may come too late, for this setup met my rules for entry at the previous close, but i want to share it anyway because maybe the price will come back to retest the entry zone. And there i will be waiting for my orders to be filled. Price is testing a daily resistance zone (blue box) and it's already OVERBOUGHT, that's when i start to look for trading opportunities down on 4hr and 1hr charts. This time we put an engulfing kicker on the 4hr chart. If you follow me you would remember one or two shorts on this pair last week, i got stopped out both times. But keep in mind, the last trade doesn't change your overall edge on the market. Don't be affected by the last trades' results. My order will be placed at 1,0061s Stops and targets as in the chart above. If you have any question or remark feel free to write it below. Otherwise, see you in the next chart.
Short
by Roker1
Short trade on AUDCADHey guys, today i want to bring you a nice opportunity on AUDCAD. In the daily chart we are back at previous structure and price is struggling with breaking it. We have already put a long wick to the top and so we want to get short on this pair. On the 4HR you can see we have RSI divergence and we've put a large engulfing candle that could be the first sign of a reverse. Price is pulling back now and i think i'm going to get involved at 0,9850 level. Stops above the highs. First target at 0,9780s Second target at 0,9700s If you have any question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
AUD/CAD Trade Opportunity There should be an opportunity here for a buy or sell depending on what happens with the price action. If price closes above the dark blue resistance line, I would expect price to go up to at least around the .97900 area. To take the safest trade, wait for a re-test of the resistance line (which would be support at a re-test). If price closes below the upward trendline, I would expect price to continue down to at least the .97000 area. To take the safest trade, wait for a re-test of the trend line. As always on my charts: Red Lines - Monthly Support & Resistance Orange Lines - Weekly Support & Resistance Yellow Lines - Daily Support & Resistance Dark Blue Lines - Support & Resistance Area I'm currently looking at (in this case 1 hr.)
by Jabest
AUDCAD @ 1h @ week of decisions (50th week`16)A week of decissions stays ahead this week (50th week`16) ... 1.03975 start of extended downside trendline (november`16) 1.00947 end of extended downside trendline (november`16) This could be an usefully long/short decission helper! 0.99394 1st high this month (december`16) 0.98427 1st low this month (december`16) 0.98439 1st test of this month low (december`16) An OutBreak to the Up/Down Side could be also an usefully long/short decission helper! 0.97291 temporarly summer low 2016 (july`16) 0.97537 temporarly summer low 2016 (august`16) Will both summer lows be usefully support lines? Or will they broken through? If AUDCAD will break down (<0.97291), then are only last year lows next support lines ? 0.91754 yearly low 2013 0.93979 yearly low 2014 0.91513 yearly low 2015 0.93266 yearly low 2016 Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
by Devise2Day
Yes! You got it right about Audcad, Follow the chart for setupThe overall aspect of this structure looks like a megaphone. We could say, there is a horizontal bottom formation. The formation already touched two minor highs and two minor lows. The volume of the formation, which is almost a "U" shape supports the idea. 1) A premature pullback can happen to the level of 0.618 for a very short-term buy 2) If it breaks the horizontal trendline downwards, then wait for a pullback, flag or such short-term formation to continue selling. 3) I will update the chart day-by-day, if possible Follow the chart and never forget to click the like button. Trade with care and you are responsible for your trading. Thank you.
Short
by patterntrader