AUD?CAD SHORT WORKEDAUD/CAD was retesting a horizontal resistance level of 0.887 while trading in a downtrend so I thought that we will see bearish continuation and we saw it!
CAD
GBP/CAD LONG TRADEGBP/CAD is trading in an uptrend along the rising support line from where we are seeing a nice rebound so I think that the pair will go up.
NZDCADCould we get a retest of the previous high?
Nice demand are here as well as potential divergence dating back to around 7/18 when the recent downtrend started.
CADCHF Alert: Bearish Flag Break? Don't Miss Out!Hello Traders,
Exciting potential awaits on the CADCHF pair! Currently, we've spotted a bearish flag pattern forming on the 4h timeframe. A break from this formation will serve as a strong confirmation of continuing bearish momentum.
Another key element to watch out for is the inside bar. A shift past its limit into a new low will underline the dominant bearish pressure in this scenario.
Importantly, this analysis is also supported by the overall market direction which is decisively bearish.
Furthermore, recent news has played a role in shaping this setup. The US Dollar has shown a slight weakening trend following a mixed July jobs report, and the Canadian employment change for July registered a decrease of 6.4K jobs. This gives additional context to our bearish outlook for CADCHF.
As always, let's stay observant, manage risk wisely, and capitalize on these developments!
EURCAD: Double Bottom Surge! Watch Out for Key News TodayHello, Traders!
We're seeing an optimistic market scenario unfold with the recent double-bottom confirmation on the 4-hour timeframe for our pair. It strongly indicates a potential upward swing, and we may see levels rising to 1.477 and above. Coupled with the overall bullish market direction, this aligns perfectly with our trading predictions.
Today, the market's pulse will be determined by key economic events and news. Noteworthy among these are:
The Bank of England Minutes and Monetary Policy Report.
BoE's Interest Rate Decision and Governor Bailey's speech.
US Challenger Job Cuts and Initial Jobless Claims for July.
USD Nonfarm Productivity for Q2 and ISM Services PMI for July.
These are crucial market influencers and can cause quick price fluctuations. Keep an eye on these indicators and stay prepared to adapt your positions accordingly.
AUDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring AUDCAD for a buying opportunity around 0.87400 zone, AUDCAD was trading in a downtrend and successfully managed to break it out. currently is in a correction phase in which it is approaching the retrace area at 0.87400 support and resistance area.
Trade safe, Joe.
AUDCAD: Time to Fall 🇦🇺🇨🇦
Update for AUDCAD.
We spotted a confirmed structure breakout on a daily, yesterday.
After a pullback, the price tested a strong intraday resistance.
A double top pattern was formed on that.
I expect a bearish move now.
Goals: 0.8742 / 0.8720
❤️Please, support my work with like, thank you!❤️
EURCAD Potential DownsidesHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46600 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46600 support and resistance zone.
Trade safe, Joe.
USDCAD, H4 | Potential Bearish Reversal Price is approaching a multi-swing high resistance level, and it aligns with the 50% Fibonacci Retracement level, which could cause price to reverse from here to our take profit target.
Entry: 1.3385
Why we like it:
There is a 50% Fibonacci Retracement and a multi-swing high resistance.
Stop Loss: 1.3446
Why we like it:
There is a pullback resistance.
Take Profit: 1.3300
Why we like it:
Pullback support and a 38.2% Fibonacci Retracement.
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USDCAD - Trend-Following Setup ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
USDCAD has been overall bearish trading inside the falling channel in red, however it is currently approaching around the upper trendline.
Moreover, the zone 1.345 is a supply zone.
🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue supply and upper red trendline.
As per my trading style:
As USDCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPCAD: Double long term Buy opportunity.GBPCAD is testing the 1D MA50 as Support on neutral 1D technicals (RSI = 49.135, MACD = 0.001, ADX = 29.493). This is an early buy signal. However since the long term pattern is a Channel Up, the downside potential extends as low as its bottom of the HL trendline. Throughout its formation, the 1D MA100 has constantly provided Support, more specifically three times since February 16th.
Consequently, if a 1D candle is closed under the 1D MA100 (again it will be the first time inside this eight month Channel Up), we will add a second buy position near the 1D MA200. The current buy (1D MA50) targets the top of the Channel Up (TP = 1.74500), the lower buy targets the 1.382 Fibonacci extension (TP = 1.75150).
Prior idea:
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CADJPYWhat you did by changing the Supply and Demand zones is to follow the base learning of looking for the moment when price pushed away from a position and even when in a consolidation as this is the point the Supply Zone started at.
Mark up every level on the 1 hour to get the best points for S&D zones if they break these zones go to the next levels on the 1 hour or 4 hour.
Only ever have 1 set of S&D in place as to not complicate the charts.
USD/CAD short idea(Back to 1.31)Hello Traders
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Shorting GBP/CAD ahead of BOE rate decision(150 pip)Hello Traders
we expect a 150 pip drop in GBPCAD after BOE rate decision.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
EURCAD possible selloff After price broke structure with a huge bearish momentum, it retraced slowly into the imbalance that it had left behind. It formed liquidity below an identified golden zone that it could possibly use to reverse and continue with is extension to the downside.
AUDCAD Short idea I like the bearish momentum we have seen leaving 0.8850 from midnight NY time. We had a pause and consolidation around 0.8820 right before another drop. I would like to see the price gravitate under 0.8780 and under Friday's low for Sell Stops for liquidity and if it is moving fast I would like 0.8750 as well.
USDCAD Sell opportunity arising a little higher.USDCAD is trading inside a Channel Down pattern for nearly 5 months.
The price is currently on the 1day MA50 for the first time since July 7th and second since June 1st. Obviously a strong Resistance.
The technical rejection zone however lies a little higher inside the range consisting of the 1.33845 Resistance (previous High) and the 0.618 Fibonacci level (1.34340). This is where the last Lower High was rejected.
The 1day RSI is already near its own Resistance, same as the May 25th Lower High rejection.
As a result, starting to sell when it touches it and scale sells up until the 0.618 Fibonacci, is a valid approach.
Target Support A at 1.30950 and after a rebound, Support B at 1.29555 for a technical Lower Low.
Previous chart:
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GBPCAD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.69900 zone, GBPCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.699000 support and resistance zone.
Trade safe, Joe.
Update AUD CAD H4 BUYThe end of the long-term trend and the return of the price, please trade carefully
AUDCAD Buy Setup: Near Perfect Storm for Profits Ahead!Greetings everyone,
The AUDCAD pair presents a compelling buy opportunity, as indicated by the strong bearish pressure. This is reflected by the candlesticks' positioning under all four moving averages. Confirming our analysis, the overall market trend, as evidenced across various timeframes, aligns favorably with this trade.
To further validate our entry, we advise seeking specific bearish candlestick patterns, including the Hanging Man, Shooting Star, or Bearish Engulfing. These patterns should be identifiable on a minimum timeframe of 15 minutes, with a preference for 1-hour confirmations.
Given these parameters, we're confident in recommending a short position on the AUDCAD. As always, exercise prudent risk management in all trading decisions.
USDCAD is giving a good opportunity -LONG hey traders, i am back with some profitable ideas. dont forget to BOOST and follow my account. USDCAD is ready for the next long term bull run. Kindly use lots according to your accounts thanks
