Market structurePrice has been moving in a corrective manner to the downside, structures were broken and the continued with this corrective bearish move until the 0.89255 low which also created a demand zone. The the market pushed aggressively up and nicely mitigated the 4h order block. The market started to significantly decrease, hence we have this current scenario. The idea here is for price to continue dropping and mitigate the demand zone which will provide a nice opportunity for buyers…
AUDCAD
AUDCAD LongHello Traders
I hope you all are doing well.
The idea here is about AUDCAD Long.
I am most inclined towards price action, the moment we breakout. i will be taking the trade.
Observations below
Falling wedge (Waiting for breakout)
Elliot wave 5-3 completed. (Considering last 1D candle taking support on trendline started on 21 Oct 2022)
Harmonic pattern
Bullish Butterfly 1D (For TP3 0.97145)
5 Bullish Divergences 1D RSI, Stoch, OBV, MFI, Hist
Not a financial advice.
AUDCAD Is Very Bearish! Sell!
Here is our detailed technical review for AUDCAD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.897.
Considering the today's price action, probabilities will be high to see a movement to 0.891.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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AUDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.89900 zone, AUDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.89900 resistance zone, i would also keep an eye on the stock market to confirm the bias as AUDCAD does correlate positively with indices.
Trade safe, Joe.
One last SHOT!!If you have been following, you should know I've been getting into the long position on the AUDCAD to take a ride on the Weekly Chart's 5-0 Pattern.
If you aren't familiar with harmonic patterns,it means I'm looking to have a ride on the bullish trade from a mid to long-term perspective. (approx 2mths)
There are a couple of attempts, and not all went to loss, it fact I'm pretty profitable with these trading ideas when I didn't get what I want.
This is probably the last or the last is near for these trading ideas to work.
I'd engaged the bullish bat pattern on the 4-hourly chart and see if it able to take me to my final target for the 5-0 patterns and beyond.
AudCad to break under supportSince the recent high at 0.95, AudCad has started a clear downtrend and in the past trading month, the pair is consolidating losses above important support from the 0.89 zone.
Pressure is on the sell side and I expect this support to be broken.
In conclusion, rallies above 0.9 should be sold and the target for swing traders could be 0.8750 zone support.
A daily close above recent resistance would negate this scenario
GBPCAD I Potential long channel support
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** GBPCAD Analysis - Listen to video!
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AUDCAD Signal 16May2023I've been waiting for this pair for the last 1 week, and soon I'm sure AUDCAD will have significant movement. If you see a bullish candle that is slowly being beaten by a bearish candle by forming a compression vase, there is a big enough possibility that the price will go down first to take liquidity below forming a false break, then the price will continue to be bullish
AUDCAD: What a Pattern! 🇦🇺🇨🇦
Update for my yesterday's post for AUDCAD.
The pair retested the broken neckline of a triangle on a daily.
And you know what. Retesting that, it formed the same tiny little triangle on 1H time frame and broke its neckline as well.
It gives a strong intraday confirmation.
The pair will most likely keep falling to 0.8977
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AUDCAD: Bearish Setup Explained 🇦🇺🇨🇦
AUDCAD is trading in a wide horizontal trading range on a daily.
Approaching its upper boundary, the price formed a descending triangle formation.
Its neckline was broken last week.
I explain a bearish movement to 0.896 level.
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Unveiling the Ultimate Trading Setup of the Week: Don't Miss OutAs some of you may recall, I've been seeking a buying opportunity on the AUDCAD for the past few weeks. My motivation for this is the Bullish 5-0 pattern setup that has formed on the Weekly Chart. I've been exploring various avenues to enter into this buying opportunity, and currently, two options are available.
Firstly, we can wait for a candlestick pattern trading setup to appear on the Bullish Gartley Pattern for a buying opportunity (left). Alternatively, a Bullish Deep Gartley Pattern on the 8 range bar chart (bottom right) could provide the trading setup for us to engage the trade.
AUDCAD potential 140 pips! AUD pairs skyrocketed Tuesday after the interest rate decision.
AUDCAD pair broke a key resistance and is currently trading above it, closing above it 0.9106 (double bottom neckline) confirms the chart pattern and takes us to test the next supply area between 0.92102 and 0.92167.
AUDCAD Long, from Order Block and Fib 0.618%Price has taken liquidity on 4H at 0.89492 and made a Order Block zone (0.83659) at Sell side liquidity and had a huge up move, created an order block (0.89808) within the FIB Golden Zone ( 0.618%), so waiting for the price to make a REVERSAL pattern on the lower timeframe within Order block zone.
🔴 #EURUSD : Ready for Another Drop ?Examining the Euro/Dollar chart in the 4-hour time frame, we can see that the price started a strong downward movement today and was able to trade again to close to 1.10, the possibility of a further price drop is high and its first target can be in the range of 1.09670 to 1.09760! In this zone, if you see a suitable trigger, you can look for a scalp position in the direction of BUY!
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⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 05.08.2023
⚠️(DYOR)
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