AUDCAD is moving in channel since long on bigger Timeframes.
It finally broke above the channel on 4h and 1h but the daily candle closed under again. So we either go short on breakdown below 50 EMa and strong level 0.88600 or we wait and see if a strong bullish candle forms & closes taking rejection from downside ( support from channel ) we can plan long then and...
AUDCAD is making a great setup here , it may rebound from here as it's a strong daily support but if broken down and retest could be great idea for taking a short position here . Always lookout for a fake breakout .
Be patient
Take position only when you get confirmation or follow me to get updates on this idea . Get the great entry here
FX:AUDCAD
Hey guys here you can see in AUDCAD pair has created Head and Shoulder pattern in 4HR time frame if the neck line is broken and if it gives retest at the neckline level, Then we can plan for selling side. Plan your trade accordingly....
The AUDCAD pair broke out of a descending channel and successfully retested the breakout level, indicating that the downtrend was over and that the market was likely to move higher. This provided an opportunity for a long entry in the pair, allowing traders to take advantage of the potential uptrend.
Price is on a high move to the bullish side based on past events, now I expect price to break it's recent resistance zone and test it before heading to the 0.95500 zone.
Please share and give a follow.
Thanks and have a great week.
As our previous analysis of ' AUDCAD ' we're looking for a long term buy up to the IMBALANCE area at least. As the market has shot up, this is another chance to get in!!
Setup Contains:
1. Stop Hunt (Sell Side Liquidity)
2. Break of Structure
3. Return To Orderblock (Expecting)
FOLLOW PAFX & TRADE LIKE BANKS 💸
We forecasted and shared our view of AUDCAD, where we were looking for a BUY from the Liquidity candle on the 23rd of July.
And, after 18+ days the full target has been achieved!!
We got -
142+ PIPS, 1:2.6+ Risk to Reward Ratio!
Disclaimer: Everything posted on this profile is for educational purpose only. Reanalyze the chart before trading. Do comment to help me reach more audience.
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.8874).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic...
Good risk reward setup that i am looking at i will enter only after seeing rejection in the price
I COULD BE 100% WRONG AND I WILL NOT RISK MORE THAN 0.50% PER TRADE
