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AUDCAD

AUDCAD AnalysisMy Technical Analysis 1. AUDCAD broke the downtrend line on the daily timeframe and started its uptrend. 2. Price Respected the support zone on 4hr timeframe proving our buy bias. 3. Discovered a Divergence on the 1hr timeframe and price started a short term downtrend. 4. Recently Discovered another divergence on the 15min timeframe indicating a potential reversal. 5. Now waiting for market to give us conformation for entry by breaking the trendline (down) and 50 period EMA on 15min TF to continue the uptrend. The Entry is expected to be somewhere around 0.9680 as showed on the chart. Stop loss will be just below the Swing low / for tight stop loss - just below the 50EMA and the trendline breakout / or simply using the ATR indicator. Take Profit Target will be the near swing high for safety / or move stop loss to break even at 1:1 RR and trail stop loss (recommended cause uptrend started on higher TFs and expected to go further). About Myself Hello Traders, I'm Sid a new trader in the market, started 6 months ago, did a price action / technical analysis course recently and now I'm here to practice and test my skills in real time. I'll be sharing my analysis on many forex pairs and my ideas here. Would appreciate your support (like, share, comment, etc.) and I'll see you on the next episode of Drag.... I mean Sid's Analysis. Bye.
Long
by vxyawv
💡Don't miss the great sell opportunity in AUDCADTrading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (0.96430). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDCAD is in a downtrend and the continuation of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 51. Take Profits: TP1= @ 0.95850 TP2= @ 0.95250 TP3= @ 0.94580 TP4= @ 0.93940 TP5= @ 0.93120 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
💡Don't miss the great sell opportunity in AUDCAD Midterm forecast: While the price is below the resistance 0.9990, beginning of downtrend is expected. We make sure when the support at 0.9650 breaks. If the resistance at 0.9990 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: There is a divergence in RSI and price between the peak at 0.9899 on 2021-01-06 and the peak at 0.9989 on 2021-02-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased. While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 0.9990 on 02/22/2021, so more losses to support(s) 0.9775, 0.9715 and minimum to Major Support (0.9650) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 46. Trading suggestion: There is possibility of temporary retracement to suggested Sell Zone (0.9990 to 0.9900). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. . Beginning of entry zone (0.9990) . Ending of entry zone (0.9900) Take Profits: TP1 @ 0.9775 TP2 @ 0.9715 TP3 @ 0.9650 TP4 @ 0.9540 TP5 @ 0.9430 TP6 @ 0.9255 TP7 @ 0.9065 TP8 = Free ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
2
💡Don't miss the great sell opportunity in AUDCAD Trading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (0.95040). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . AUDCAD is in a downtrend and the continuation of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 50. Take Profits: TP1= @ 0.9456 TP2= @ 0.9457 TP3= @ 0.9435 TP4= @ 0.9396 TP5= @ 0.9355 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
💡 Don't miss the great sell opportunity in AUDCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.9575). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 41. Take Profits: TP1= @ 0.9515 TP2= @ 0.9480 TP3= @ 0.9434 TP4= @ 0.9372 TP5= @ 0.9300 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
6
📚 💰 Ascending Triangle in AUDCAD - "Learn More Earn More"📚 LEARN MORE 💰 EARN MORE With ForecastCity Ascending Triangle Definition: An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows. It is defined by two lines: . A horizontal resistance line running through peaks. . An uptrend line drawn through the bottoms. The higher lows indicate more buyers are gradually entering the market and buying pressure increases as price consolidates moving further towards the apex. An ascending triangle is classified as a continuation chart pattern. If price can break through the resistance level, that level will now act as a support level. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable. In most cases, the buyers will win this battle and the price will break out past the resistance. But Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through. Therefore you should be ready for movement in EITHER direction. ENTRY: We would set an entry order above the resistance line and below the slope of the higher lows. TARGET: Target is approximately the same distance as the height of the triangle formation. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_ME
5
💡Don't miss the great sell opportunity in AUDCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.957). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 48. Take Profits: TP1= @ 0.9545 TP2= @ 0.9522 TP3= @ 0.9480 TP4= @ 0.9445 TP5= @ 0.9410 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
5