Double bottom forming on AUDCAD 4HThere seem's to be a double bottom formation forming on the 4H chart for AUDCAD.
Aud-cad
Short AUDCAD - Fundamental Short BiasOn 5 June I went short AUDCAD at 0.96364 due to a reaction at a prior key level and a fundamental short bias. Stop to be trailed as position plays out.
AUDCAD buy on H1AUDCAD price is on low level, and the Relative Strength index is in oversold zone, this is a good entry for long position's.
USDCAD Approaching Resistance, Prepare For A ReversalUSDCAD is approaching its resistance at 0.9431 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.9319(38.2% Fibonacci retracement, horizontal overlap support).
AUDCAD Approaching Resistance, Prepare For A Reversal
AUDCAD is approaching its resistance at 0.9364 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 0.9328(23.6% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected
AUDCAD approaching big resistance, potential reversal!Price is approaching our first resistance (pullback resistance, 61.8% Fibonacci extension) where we might see a drop to our first support (pullback support, 50% Fibonacci retracement). Stochastic is also approaching resistance where we might see a drop in price. Stochastic is also approaching resistance.
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AUD CAD SHORTWait until one sees a solid change in direction before getting in. I assume it will test resistance at 0.92662 or a bit lower, then as the market direction is short this is an opportunity to short with tp at 0.91238
AUD CAD BUY (AUSTRALIAN DOLLAR - CANADIAN DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
AUDCAD divergence spottedAfter breaking our previous trendline on the 3rd touch and dropping heavy, our pair is currently sitting on a S/R level where we could see a possible bounce as we spotted divergence in the Stochastics. I will personally go Long once Stochastics cross the Lower Band.
forexTrdr AUDCAD LOOKING INTERESTING AT SUPPORTAfternoon traders,
Looking at Aussie dollar versus Canadian dollar as it trades around support levels from early March whilst matching up with extreme oversold levels on both RSI and stochastics.
Additionally the move lower appears to be running out stream here both on volume and on price action with the pair sticking in a 30pip range for the past 24 hours.
Our trading view chart should explain our view perhaps better than our description here. We are very mindful of the risk of Trump hitting twitter again with further hard ball talk around China and so we are positioning our lot sizes accordingly.
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AUDCAD - Waiting for the impulsive move up.Most of the AUD pairs are currently in a corrective move. We need to try and catch the end of the current corrective pattern to find the impulsive move up.
The charts are suggesting we are starting the up-move to complete the larger corrective C wave.
We can either be patient and catch this move up on the Daily or for all you day traders, you can drop to the lower 4h and find an opportunity to catch whats left of this move down.
AUDCAD Monthly TF Perspective Analysis. Drop to 0.88000 Likely!The main chart shows the monthly TF picture of the AUDCAD pair. Here as seen the price is confined inside a triangle which has been respected on numerous occasions. Additionally the red lines represent the nearby support and resistance levels drawn from the monthly charts.
For A SHORT scenario to take place, the price must breach the triangle and the monthly candle must convincingly close below the 0.93000 support structure. After this has happened, we should await slight retracement before taking this pair short with the potential target being 0.88000 structure level.
On the flip side, shall the triangle breach to the upside the nearby 0.98000 level would become the immediate target in this scenario!
Fundamentally its hard to predict where this pair is headed. CAD driven by the prices of OIL and AUD's economy loosing steam with trade war also pilling misery on AUD and OIL prices. Its hard to predict at the moment but as time goes and the picture becomes more clear, it will be evident enough as to where this pair is headed.
This just represents my outlook on this pair. Shall the trade criteria meet in the future i will post the details in a new post. cheers
AUDCAD SET TO COMPLETE THE BEARISH PULLBACK FROM DEC 2018.Hi Traders,
The AUDCAD rally that started in Oct 2018 from 0.9107 low can be seen as an Elliot Wave impulse structure, labelled 1-2-3-4-5. According to Elliot Wave Principle, a three-wave correction in the opposite direction follows every impulse.
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AUDCAD's seems to be in the corrective phase since 18th Dec 2018 and it's unfolding as a combination. So far, we have seen a (w)-(x)-(y) combination structure in wave W, double zigzag in wave X and wave Y seems to be unfolding as a simple zigzag pattern.
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The overall correction in wave (B) is expected to terminate within the blue box and maybe retest the channel support. If this count is correct, a 5-3 wave cycle will be considered to be completed, and the trend can be expected to resume in the direction of the main impulsive sequence in wave (C).
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Did you like this Elliot Wave Analysis? Kindly let me know in the comment.
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Thanks for reading!
Veejahbee.
AUD/CAD LOOKING BULLISH...Wait to see how the market opens... Price may potentially bounce of trendline rather than support...
Possible AUDCAD short for week of 5/5 - 5/10Price closed for the week below last week's low. I'll be looking to short this pair around last week's low of 0.94385 using a 4H chart.
Once price returns to 0.94385, I'll begin watching a 4H chart for a candle to close below a previous candle's low.
If this occurs, I will be looking to short the previous 4H candles low using levels on the 1 minute time frame.
AUDCAD BUY OPPORTUNITY, STILL WAITING FOR ORDER BLOCK Waiting to JUMP THE CREEK off of the order block. Smart Money sold to buy and I am waiting for them to breakeven on the sell to push market up. Spread was WAY too big when the market opened yesterday, so I would like to see price come back to 0.94650 again give or take a few pips. Then we will jump in with the buy and ride it to the previous highs.
