Trade ideas
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.
💡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 ❤️
