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AUDCAD trade ideas

Sell AUDCAD Symmetrical TriangleThe AUD/CAD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position below The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.9070. Target Levels: 1st Support – 0.9028 2nd Support – 0.9007 Stop-Loss: To manage risk, place a stop-loss order above 0.9090. This helps limit potential losses if the price falls back unexpectedly. Bearish Breakdown: Triangle Breakout Retest: The price action recently broke above a bullish triangle, indicating a potential uptrend. However, it has now returned to retest the broken resistance line of the triangle. This retest often precedes a reversal. Ichimoku Cloud Resistance: The price is currently hovering near the Ichimoku cloud, which can act as a resistance zone. A rejection from this area could further strengthen the bearish case. Thank you.
Short
by KABHI_FOREX_TRADING
2
Heading into 61.8% Fibonacci resistance?AUD/CAD is rising towards a resistance level which is an overlap resistance that aligns with the 611.8% Fibonacci retracement and could potentially reverse from this level to our take profit. Entry: 0.90910 Why we like it: There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement. Stop loss: 0.91189 Why we like it: There is a pullback resistance level. Take profit: 0.90489 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
idea on a chartWW have a great set up where price could possible go AUDCAD price ended the recent bullish rally by facing the major resistance at 0.9125, to form solid obstacle against recording any new positive target and notice the beginning of activating the correctional bearish track and settling near 0.9060. Now, stochastic decline towards 50 level will increase the negative pressures on the price, allowing us to suggest more negative attempts and wait to target 0.9020 and 0.8990 levels.
by EZIO-FX
AUDCAD Bearish Harmonic Pattern - Strategic Trade SetupThe AUDCAD pair is currently exhibiting a Bearish Harmonic Pattern (XABCD), with Point D anticipated to act as a Potential Reversal Zone (PRZ). This analysis aims to identify strategic entry and exit points based on the confluence of multiple technical indicators. Key Technical Indicators Potential Reversal Zone (PRZ): Point D aligns with a significant Key Resistance area, which historically serves as a strong barrier to upward price movement. 4-hour Trend Line: The trend line, which has acted as a pivotal point in previous market movements, intersects at Point D, reinforcing the likelihood of a reversal. Bearish RSI Divergence (1-hour): The Relative Strength Index (RSI) on the 1-hour chart displays a bearish divergence, suggesting weakening bullish momentum and potential for a bearish reversal. Trade Setup Entry Point: A strategic entry is recommended at 0.91113, where the confluence of the aforementioned technical factors indicates a high probability of a trend reversal. Stop Loss: To mitigate risk, a stop loss should be placed at 0.91261, slightly above the resistance level to avoid false breakouts. Take Profit Levels: TP-1: 0.90964 The first take profit level is set at 0.90964, capturing initial downward momentum and ensuring partial profit realization. TP-2: 0.90816 The second take profit level at 0.90816 aims to capitalize on further bearish movement, aligning with intermediate support zones. TP-3: 0.90668 The final take profit target at 0.90668 corresponds to a more significant support level, maximizing potential gains from the bearish trend reversal. Conclusion: Based on the technical analysis, the AUDCAD pair presents a compelling bearish setup with multiple converging indicators at Point D. The proposed entry at 0.91113, supported by a precise stop loss and structured take profit levels, offers a well-balanced risk-reward ratio. Traders are advised to monitor price action closely as it approaches the PRZ to confirm bearish momentum before executing the trade.
Short
by trading_jupiter
2