AUDCAD trade ideas
AUDCADAUDCAD is in strong bullish trend.
As the market is consistently printing new LHs and LLs.
currently the market is retracing a bit after last LL, which is also the 50% Fib retracement level and local support as well. if the market successfully sustain this buying confluence the next leg down could go for new LL.
What you guys think of this idea?
Lingrid | AUDCAD sideways Price ACTION. Potential SHORTThe price perfectly fulfilled my last idea. It hit the target level. FX:AUDCAD created a lower high and formed a double bottom. Overall, the trend appears to be moving sideways on the 4H timeframe. I believe the market is forming a descending triangle pattern, which suggests that the double bottom may be retested. I expect the market to move higher toward the resistance zone that has been respected multiple times before, and potentially take liquidity above the psychological level at 0.92000 before moving downward. My goal is support zone around 0.91590
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
AUDCAD - 4hrs ( Sell Trade target Range 100 PIP ) 🟢 Pair Name :AUD/CAD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
------
spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
🟢 Key Technical / Direction ( Short ) Bearish
Type : Mid Term Swing
———————————
Bearish Break
0.91450 Area
Reasons
- Major Turn level / D
- Visible Range hvn
- Inner Trend
- Major Channel Middle Band
- Day Low break
- Week low Break
Bullish Reversal
0.90000 Area
Reasons
- Major Turn level
- Visible Range Hvn / Poc
- Week low Area / P
- Pattern Target
- Fibo Golden
Short on the daily AUD/CADShort on AUD/CAD with the usual 1% risk set at 1.5xATR. However, in this case, we've also set the TP at 1:1 RR for 50% of the position as the level also coincides with the 161.8 level on a Fib we're observing. If price should breach the TP, the second half of the position would be left to run with a trailing stop at 1xATR
AUDCAD Descending Triangle: Key Support Levels to WatchAUDCAD moved up from 0.9060 to reach 0.9375, and now forming a descending triangle pattern. This pattern usually appears when the price is making lower highs, meaning sellers are pushing it down, but there’s still a solid support level holding it steady, around 0.9165.
Currently, AUDCAD is trading at 0.9175, and it seems likely to keep dropping. The first level to watch is 0.9110, if the price breaks below this, it could continue down to 0.9060, where the previous rally began.
If sellers keep control, we might see more downward movement. But if support holds, there’s a chance for a bounce.
BREAK THROUGH SUPPORT OR RETEST looks like audcad has come to retest the 0.91650 support level for the fourth time with a good chance of a breakthrough towards the downside, although there is some rejection on the 1 hour time frame meaning some pullback, but on the daily time frame we could see break through the downside as volume seems promising
Monitoring pair 1AUDCAD Weekly Analysis
On the weekly timeframe, AUDCAD will likely approach a significant area where a retracement is anticipated. The 0.168 Fibonacci level is expected to serve as a potential pullback zone, where the price may consolidate or reverse. This level could act as temporary support or resistance, presenting an opportunity to evaluate future trade entries and exits. Observing how the price behaves around this level will provide insights into the strength of the trend and potential setups for continuation or reversal.
Audcad from weekly AUDCAD Weekly Analysis
On the weekly timeframe, AUDCAD has reached a key area where a retracement is anticipated. The 0.168 Fibonacci level has been identified as a possible pullback zone, indicating a chance for price to consolidate or reverse. This level could act as a temporary support or resistance, providing an opportunity to re-evaluate trade entries and exits. Watching how price behaves around this level can give insights into the strength of the current trend and potential setups for a continuation or reversal
AUD/CAD - Weekly AnalysisPrice is moving within a weekly uptrend, with the most recent higher high printing at the end of September last month. Currently correcting, price is finding support circa 0.9165 for the third week in a row. Potentially smaller, bullish changes in cycle could be the start of a new weekly impulse back up to major resistance at the 0.9500 zone.