CADAUD trade ideas
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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BULL FLAG - LONGWaiting for the price to form a bull flag to enter LONG.
Our bias remains to enter long
AUDCAD, wait for confirmed breakout and retest to Sell..Please Support this Idea with LIKE if it is Useful....
AUDCAD
The price is close to Support/resistance level ,wait for the confirmed breakout and retest to sell,after a pullback If price shows rejection from the level I expect the price to continue lower..
For Entry:
Wait for the formation of Bearish Candlestick Pattern to close on 4hr timeframe for confirmation to SELL..
Trade it with proper Sl..
In case, if price breaks above the support/resistance then we have to wait for a clear direction..
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent
AUDCAD HEAD AND SHOULDER BREAKOUTThere is a perfect short opportunity in AUDCAD pair as it has a Head & Shoulder pattern breakout.
BULL FLAG - LONGLong term trend - LONG (Soon to change to short)
Current trend - LONG
Nature - CORRECTIVE PHASE
Pattern - BULL FLAG
Stoploss - 34 pips
Risk: Reward - 1:3
AUDCAD just waitHi, Thank you for clicking on my scenario. In this scenario, I see the formation of a channel pattern. The red line above is the resistance that keeps the price on hold to go up sharper, and the green line below is what keeps the amount going up and doesn't go bearish. Still, now the price has broken the green range meaning the trend from AUDCAD to Bearish and this scenario is supported by weekly or analysis using 1-week timeframe you can see below for weekly analysis + in weekly analysis there is also overbought RSI or above 80 for more details you can check below later for weekly analysis which I see here 4H timeframe, of course, The price of AUDCAD has broken the green line, and there is a slight pullback. We just need to wait for the next whether the SELL is confirmed or not to verify from this bearish, we have to wait for the CLOSE price below .94960, it can be confirmed bearish confirmed, and we open SELL for my target using 3 the target is 0.94347,0.93544,0.92741 for my Stop Loss use 0.95907
AUDCAD Waiting For reversalIn this scenario, I see that AUDCAD will reverse the direction of the trend in the trendline which is quite strong and can continue to be bullish in this scenario of the acquisition ratio up to 1:3 and this is good enough for trading positions although only touching the target 1 ratio in getting is 1:1 and this is not too bad, in the scenario, I do not use entry 1 buy but instead 2 entries 0.95400 0.95791
