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Audcadshort

AUDCAD Rising Wedge Breakout, Midterm Short There is a resistance that has been in place since 2012 so it is very strong. When the price got there is fairly quickly got rejected. On the Weekly timeframe you can see a nice rising wedge that is now about to be broken (if you look at a shorter timeframe it is broken.) Also, it is broken on the RSI. What to look for: A close under the wedge on the daily timeframe or if you are feeling aggressive you could enter now. I am newer to forex so let me know what you think in the comments. If you like the idea, please follow.
Short
by Sicklezi
2
AUDCAD - Signal to go long to 0.98865Take a close look at the chart. Price broke out of the trendline once and came back inside the trendline which makes it a failed trendline breakout. Thereafter, price broke out of the trendline again, pulled back, and gave a signal to go long take profit 1 at 0.98865 and take profit 2 at 0.98981. What do you think? Share your opinion in the comment section.😇 Please support this idea with LIKE👍 if you find it useful.🥳 Follow me to receive more contents like this.🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓
Long
by PetrockFxTrading
AUDCAD - Short TradePrice has reached an area of resistance after breaking out of a rising wedge. We had an impulsive move away from this area and then we correctively consolidated, forming a double top. We then saw momentum to the upside, grabbing orders above the consolidation area, highlighting the manipulation and liquidity grab. We then rejected the 70.5% Fib retracement as the SL orders was just above the 61.8%. Once again retail traders suffer as their SL has been hit after getting the direction correct once again. SL will be above the high and the resistance level. If price was to break above this level then I would consider this trade being invalid, hence why the position was here. TP is at the psychological level of 0.98 which ties in nicely with area of sensitivity and the 61.8% fib extension.
Short
by Ryansanalysis
1
AUDCAD: SHORT on this TREND CORRECTIONHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : AUD/CAD ⚪ Technical Analysis : Since the 2nd of February 2021, the price has been moving following a clear uptrend after it got an interesting rejection on the level at about 0.97150. During that strong movement, the price broke through the S/R zone at about 0.97900, reaching a daily zone at about 0.98600, that rejected the price many times since the end of December 2020. It is currently re-testing the same zone and the next price action will be essential to confirm a new rejection. 🔴 Conclusion : In a long term I'd definitely see the price going up more, reaching and eventually breaking through the main resistance zone (see the chart), but right now I'm confident to see a clear rejection and a re-test of the support zone at 0.97900. I'm looking for a good entry point to get a short position on this trade. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
27
AUDCAD - Two possible movesPrice is currently in the support zone. I expect price to either breakout of the support zone upward or pullback to the demand zone to complete the double top M pattern. What do you think? Share your opinion in the comment section.😇 Please support this idea with LIKE👍 if you find it useful.🥳 Follow me to receive more contents like this.🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓
Short
by PetrockFxTrading
AUDCAD: Following the DESCENDING CHANNELHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : AUD/CAD ⚪ Technical Analysis : Since the beginning of January 2021, the price has been showing few signs of weakness, it re-tested many times the support zone at about 0.97800 and few days ago it finally broke it. Few hours ago a nice downbar closed under the support zone and there is a good possibility to see the price falling down until its next support zone at about 0.96700. 🔴 Conclusion : Since the 27th of January, the price has been moving inside a descending channel, and I'm confident to see a new re-test of the level 0.97700 before collapsing down. I'm already holding a short position and I'd be ready to open another position once I'll eventually confirm a pullback on the S/R zone. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
16