CADAUD trade ideas
AUDCAD - "Setup in Progress"AUDCAD is making a great setup here , it may rebound from here as it's a strong daily support but if broken down and retest could be great idea for taking a short position here . Always lookout for a fake breakout .
Be patient
Take position only when you get confirmation or follow me to get updates on this idea . Get the great entry here
AUDCAD 4 Hour (03 April 2023)AUDCAD 4 Hour
1. Creating chart pattern (We need to wait for break)
2. Creating divergence, so we can get some sudden trend change.
3. Key levels: Sudden bullish trend if break 0.91026,
sudden Bearish trend if break 0.90293
Waiting for short bullish then bearish. So, we have to wait. For now, neutral.
AUDCAD 4 Hour Analysis (30 and 31 March 2023)AUDCAD 4 Hour Analysis:
1. Price is in one important demand zone
2. We can observe a trend,
need to wait for breakout
3. MACD histogram is making divergence
4. MACD and Signal Crossover indicating bullish
(Plan B: if Demand becomes support,
we need to look for sell opportunities
AUDCADThe AUDCAD pair broke out of a descending channel and successfully retested the breakout level, indicating that the downtrend was over and that the market was likely to move higher. This provided an opportunity for a long entry in the pair, allowing traders to take advantage of the potential uptrend.