CADAUD trade ideas
<< Next target for AUDCAD >>We're in a large WXY structure and in process to start Y with another (WXY). X turned out as an ABC running flat. C hit perfectly the 100% extension of A. Now our next target is the .618 extension of W which is the most likely target and will complete (W).
💡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
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AUDCAD : Looking for short opportunity!AUDCAD is looking for a great short opportunity for this week in fx market. Has the chance for more move to the downside. AUD seems weak across the correlation board. Along with the news of HIA New Home Sales (MoM) which has some negative results.
AUDCAD M30Price rallied in the NY SESSION on 5th February 2021 with the noticeable volume. And we are expected that price will pull back to yellow zone that also coincides with 38.2 fib level. The reason behind this huge volume being the price tested longterm trend line on Daily chart. After the pullback, we will be closely looking at the Price action in the YELLOW marked zone. This trade can possibly be have risk reward ratio of 1:4 on long position as shown. So good luck and happy trading everyone :-)
AUDCAD - SHORTDESCRIPTION
The counter AUDCAD forms a descending channel . The counter's prices is moving between the top and bottom line of the channel from 05th February. The formation of the descending channel indicates the counter is in a bearish mode. The price is accumulating near the top line of the channel for the past 24hrs. Since the price didn't break the top-line, the bearish mode may continue further. The down-sloping movement of the MACD curves gives additional support to the description. If it breaks the top line of the channel, then there may be a chance of trend reversal.
The major levels for this counter are
R2 –0.9789
R1 –0.9767
PP –0.9751
S1 –0.9728
S2 –0.9712
AUDCAD dropping down I think AUDCAD is dropping and I set my first target at 0.94300
I will update you later
Now tell me what you think
Agree 👍 or disagree 👎?
AUDCAD SEEMS TO BE SHORT AUDCAD's next move looks downward.
Take Profits:
1:0.95300
2:0.94300
3:0.92450
Let me know what you think of my idea.
Have a great profitable trading week.
AUD CAD analysisWhat on earth this is?
an inverted HnS pattern on the weekly shows a massive 1600 pips of movement
V.goood long oportunityit is been bearish on the shoter period of time.
Blue line is indicating upward trend as per the weekly chart
audcad breakout Major Trendline broke and re-tested so high probability of big moves within few days
Ascending channel - Sell Price has formed a rising wedge pattern and also an inside (pattern with in a pattern)structure which is highly suggestive of probability of going short.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
