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AUSTRALIAN DOLLAR / CAX

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AUDCAX trade ideas

AUDCAD buy opportunityPRACTICE - Day trading. This is a practice from a new DAY TRADING course I'm taking, for logging purposes. Please do not trade as my analysis might be incorrect. I encourage constructive feedback. If you did trade, make sure the drawing is respected, don't use exact values as they might differ from a broker to another. Explanations: MIN - last minimum point MAX - last maximum point BOS - break of structure SMS - shift in market structure SL - stop loss TP - take profit RR - risk reward OB - order block OB (15) - order block (based on M15) timeframe If you like this kind of ideas follow me for more analysis.
Long
by gabisuciu
AUD/CAD (1H) – Bearish Wedge Formation & Sell SetupMarket Overview: The AUD/CAD pair is currently forming a rising wedge pattern, a bearish signal indicating a potential breakdown. The price is consolidating within support and resistance levels, showing signs of weakening momentum. Key Technical Observations: 🔹 Rising Wedge Pattern: The price is making higher highs (HH) and higher lows (HL), but the structure is narrowing, indicating a potential breakdown. 🔹 Neckline Support: The key level to watch is 0.8990—a break below this support will confirm the bearish move. 🔹 Breakout Confirmation: A break below the neckline will trigger a strong downside move, confirming the wedge breakdown. Trade Setup: 📌 Sell Stop Entry: 0.8990 (Below neckline support) 📌 Stop Loss: 0.9036 (Above resistance) 📌 Take Profit 1: 0.8944 📌 Take Profit 2: 0.8898 Trading Plan: ✅ If the price breaks below the neckline at 0.8990, a sell stop order will be triggered. ✅ A stop loss is placed above the recent resistance at 0.9036 to minimize risk. ✅ If the price reaches TP-1 (0.8944), consider securing partial profits and adjusting the stop loss. ✅ A further decline towards TP-2 (0.8898) is expected if momentum continues. 💡 Conclusion: A breakdown from this wedge structure could lead to a strong bearish move. Traders should wait for confirmation below 0.8990 before entering the trade. 📉 Stay disciplined & trade with a strategy! 🚀
Short
by Asif_Iqbal_chaudhary
Navigating Down: AUDCAD Short Opportunity AwaitsAs we delve into the AUDCAD currency pair, a clear selling opportunity has emerged, driven by the insights from our EASY Trading AI strategy. With an entry price set at 0.90111, we aim for a strategic profit target of 0.89863, while implementing a protective stop loss at 0.9035. The rationale behind this bearish outlook is grounded in several factors. First, recent market trends indicate a stronger bearish sentiment, primarily driven by economic reports from Australia that suggest potential slowdowns in growth. This, combined with ongoing geopolitical tensions, may further pressure the AUD against its Canadian counterpart. Moreover, technical indicators align with our prediction, showing that the pair is currently trading near resistance levels, which historically have led to price reversals. The RSI also indicates that the AUDCAD is approaching overbought territory, reinforcing our decision to sell. For those trading this pair, maintaining a disciplined approach with set risk parameters is essential. By adhering to this strategy, traders can harness market fluctuations effectively while mitigating potential losses. Remember, the market requires patience and discipline; it's not just about the signals, but how you manage your trade that counts. Happy trading!
Short
by ForexRobotEasy
AUDCAD Buyers In Panic! SELL! My dear friends, Please, find my technical outlook for AUDCAD below: The price is coiling around a solid key level - 0.9015 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.8992 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Bullish bounce?AUD/CAD is reacting off the support level which is a pullback support that lines up with the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 0.9006 Why we like it: There is a pullback support level that lines up with the 23.6% Fibonacci retracement. Stop loss: 0.8976 Why we like it: There is a pullback support level that lines up with the 61.8% Fibonacci retracement. Take profit: 0.9044 Why we like it: There is a pullback resistance level that is slightly above the 138.2% Fibonacci extension. Enjoying your TradingView experience? Review us! 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.
Long
by VantageMarkets