Get started

CANADIAN DOLLAR / AUSTRALIAN DOLLAR

No trades
See on Supercharts
OverviewIdeasMindsTechnicalsSeasonalsEconomic Calendar

Trade ideas

📚 💰 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
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 --------------------------------------------------------------------------------- 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 ❤️ 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
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
Short
by Stargazer_fx
2