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AUDCAD

AUD/CAD SHORT TRADE H4 SETUPI went short on this pair following a specific candlestick pattern and a support/resistance zone on the H4 timeframe. I identified an engulfing candlestick pattern on the 4-hour chart, suggesting a potential change in market direction in favor of my short trade. Furthermore, I noticed that the price has returned within a box that previously acted as both support and resistance. This led me to believe that the market might continue its bearish trend. Here are my entry point, stop loss (SL), and take profit (TP) levels: Entry point (short): 0.8820. Stop loss (SL): 0.8881. Take profit (TP): 0.8715. This is just one of my trading strategies based on candlestick analysis and support/resistance levels. However, the market is always unpredictable, and trades involve risks. I maintain a strict risk management approach and am ready to adjust my stop loss and take profit as the trade evolves. Please note that this information is provided for educational purposes only and does not constitute investment or trading advice. I encourage you to conduct further analysis and make informed decisions based on your financial situation and trading experience.
Short
by Forex48_TradingAcademy
AUDCAD Buy Setup: Near Perfect Storm for Profits Ahead!Greetings everyone, The AUDCAD pair presents a compelling buy opportunity, as indicated by the strong bearish pressure. This is reflected by the candlesticks' positioning under all four moving averages. Confirming our analysis, the overall market trend, as evidenced across various timeframes, aligns favorably with this trade. To further validate our entry, we advise seeking specific bearish candlestick patterns, including the Hanging Man, Shooting Star, or Bearish Engulfing. These patterns should be identifiable on a minimum timeframe of 15 minutes, with a preference for 1-hour confirmations. Given these parameters, we're confident in recommending a short position on the AUDCAD. As always, exercise prudent risk management in all trading decisions.
Short
by FX-TradingLions
Sideway Consolidation, Perfect for Counter-Trend Traders!📊 If you're a trader seeking both buying and selling opportunities without worrying about trends, this one's for you! Australia-Canada is in a sideway consolidation, ideal for counter-trend traders who love buying low and selling high. 📉📈 👀 On the daily chart, observe the group of highs and lows. The four-hour chart heads towards previous supports, while the one-hour chart shows a new low, great for shorting. 📈 Weekly potential shark pattern at 0.8704, and daily shark pattern at 0.8728, hint at a close-range longer-term buying opportunity. Don't miss the ABCD pattern on the left—amazing trading opportunities await! 🦋 Butterfly traders watch for completion at 0.8730 on the four-hour chart. Focus on repeated levels for the best returns. 💡Want to spot opportunities like a pro in just 15 mins a day? Scan the QR code and join our community of like-minded traders! 🔍 Different trading strategies point to the same level, making it a key focus for buying opportunities. But don't disregard shorting opportunities—be cautious around 0.8730. 📈 Follow me on my only account @raynlim for insightful analysis and updates. Let's trade smarter together! 💹📈
Long
by RaynLim
AUDCAD - Short active ✅Hello traders! ‼️ This is my perspective on AUDCAD. Technical analysis: Here I expect bearish price action as we can see that price filled the imbalance and rejected from 1H bearish order block + institutional mid figure 0.89500. Fundamental analysis: This week on Friday will be released monthly GDP on CAD, that was forecasted to increase, this means strength in currency, which can support our analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
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