CADAUD trade ideas
💡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
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💡 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
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📚 💰 Ascending Triangle in AUDCAD - "Learn More Earn More"📚 LEARN MORE
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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.
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💡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
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AUDCAD Sell AUDCAD is maintaining a steep downwards trend, and expected to sell towards the support zone 0.91938
AUDCAD SELL SIGNALAUDCAD 4HR
See the RSI Diversion is negative for AUDCAD + Trend resistance + week resistance retest....✅✅✅ A perfect sell
Sell around 93700
Tp 93300
Tp 92700
Tp 92000
SL 0.94500
This is long trade use 0.01 or 0.02 as per your fund
PLEASE Follow SL
AUDCAD TRADE NO.11I took a retest on 1hr after seeing a breakout. But it was not a trade to be taken as 4hr was rejecting from resistance. So after I realise my mistake I decided to get out of this trade and took a 2 pip loss.
LESSON LEARNED: Always watch 4hr and daily timeframe when u want to take a trade.
Two great sell opportunities on this chart for AUDCADMid-Term Forecast:
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9597). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 0.9505
TP2= @ 0.9405
TP3= @ 0.9270
TP4= @ 0.9065
TP5= @ 0.8915
SL: Break Above R2
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Short-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.959). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 0.9522
TP2= @ 0.9487
TP3= @ 0.9420
TP4= @ 0.9290
TP5= @ 0.9195
SL: Break Above R2
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Now, It's your turn!
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Trade well, ❤️
ForecastCity English Support Team ❤️
