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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

AUD/CAD Ready To Go Down Hard , Here Is The Best Place To Sell !We have a very good res area that forced the price to go down before , we also have a very good bearish Price action and also good daily closure , we can sell this pair to get 200 pips , and this idea will fail only when we have a weekly closure above our res . This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Short
by FX_Elite_Club
AUDCAD: Ready to Break Higher?The Australian Dollar to Canadian Dollar (AUDCAD) currency pair is currently exhibiting some interesting dynamics that align with a bullish outlook. Here are a few key fundamentals and technical observations that support a bullish bias: 1. Technical Patterns: A bullish flag pattern has been identified on the AUDCAD chart, indicating the potential for upward movement. This pattern often suggests a continuation of the existing uptrend, which aligns with a bullish perspective. 2.Oversold Conditions: The market is currently in an oversold condition as indicated by the Relative Strength Index (RSI). This suggests that the selling pressure might be exhausted, paving the way for a potential price increase. The market is expected to reach levels around 0.908, providing a strong bullish signal. 3.Demand Zone: The presence of a crucial demand zone around the 0.905 level further supports the bullish bias. This zone acts as a strong support, where buying interest is likely to increase, potentially driving the price higher. 4.Correlation with Indices: There is a noted positive correlation between stock indices and AUDCAD. Given the bullish bias on indices, AUDCAD has a tendency to rise, which strengthens the case for a bullish outlook. In light of these factors, I plan to utilize probabilities to strategically position myself into long trades on AUDCAD. Let's dive into the comprehensive top-down analysis together. 12M: 2W: Hourly timeframes:
Long
by Jasminex1x2
AudCad Trade IdeaAudcad is currently at a weekly resistance that was once respected before crashing back down to the daily support I have marked up. If price is gonna respect that weekly resistance I would want to to see a break and retest of the last higher low to confirm shorts for the week. If that happens I'll short the pair until price can reach daily support. We did get a daily candle closure below the weekly resistance so we'll have to see how the smaller time frames move.
Short
by OfficialJ23
1
AUDCAD- Possible sell setup Liquidity Sweep: At the top of the recent price movement, the chart indicates a "Liquidity Sweep" just above a resistance level, where stop-loss orders are likely triggered. This suggests a potential reversal zone after the liquidity grab. Sell Limit Order: A sell limit order is placed slightly below the liquidity sweep, indicating that the trader expects the price to reverse downward after collecting liquidity at the highs. Stop Loss: The stop loss is set above the high of the liquidity sweep, suggesting the trade idea assumes the price should not go higher once the liquidity is swept. Take Profit (TP): The take profit zone is set near a previously identified support area. The green horizontal line marks a level around 0.91233, which aligns with a Daily Time Frame Order Block (Daily TF OB). This suggests the target for the trade is for the price to drop to this support level. Trendline: There is a dashed trendline showing the overall upward trend before the potential reversal. If the price breaks below this trendline, it could confirm the bearish move toward the take profit zone. The strategy here likely assumes a retracement following the liquidity sweep, with a short position targeting the support level near the daily order block. Sell Limit : 0.92479 Stop Loss : 0.92872 Take Profit : 0.91236
Short
by factoryforex01