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AUDCAD

AUD/CAD short lining up superbly and ready to break below - SMC AUD/CAD Head and Shoulders formed over the last few months. We now are just waiting for a break below the neckline and it's text book shorting time. 21>7 - Bearish Price>200 - Bullish RSI <50 Bearish div Target 0.8735 SMC: With the Head and Shoulders, the top of the Right Shoulder swept Buy Side Liquidity and the price came down. With the orders sweeping buying, means the big boys are shorting which confirms downside to come. Just waiting for the picking.
Short
by Timonrosso
📌 Potential SELL setup for: AUD/CAD👩🏽‍💻Technical: Weekly and the daily TF, suggesting selling pressure for AUD as the price has crossed MA 20 and MA 100. On the 4-hour, the M pattern neckline was completely broken and is now aiming to make a new 4-hour low. 🎯 For an ideal entry: You could potentially enter it now or wait for the candlestick to close into a new 4-hour low, but just keep in mind the potential first support zone in the photo I marked. The overall setup has the potential to drop down and re-test the previous daily bottom.
Short
by fxtraderkristina
Distribution phase rejectionThis pair reacted nicely to the setup we had the previous week from the distribution phase. Mitigated the breaker, then the internal demand zone even if it made a spike out, pushed all the way up to form a fractal high which created some liquidity. Dropped made yet another mitigation, broke the structure and made a nice pullback to the breaker block which led to this stunning bearish momentum. From the current information, I foresee the market falling even further to violate the liquidity zone and from the violation buyers shall take control. The initial bullish target is the internal supply zone…
by tokelohomi
P2P | Update On All Mark UpsHello family! Things have been well in the markets this week for me so I hope the same for you! As of today, I have redone my chart mark ups about 1-2x over the last few weeks so mostly everything is still fresh and unique. I go into detail about using my strategy to analyze trades on both higher and lower timeframes, and that they work just as powerfully. In my recent bias on #DXY I explained how I was bullish on the dollar overall. Due to further fundamental research I have realized that its best to keep a mark up for your guide and build off that, than to express it being what "you think the market will do". I also go over a few other charts, pretty in depth on a #gold trade I marked up the night prior. I can say that I have achieved a stronger trading level in my skillset and I am able to share it on this platform, rights and wrongs! So thank you again family and the support is always appreciated. Trade well, stay healthy, and conquer one step at a time.
TVC:DXY
by Pips2Porsches
AUDCAD on a Head & Shoulders pattern. Trade the break-outs.The AUDCAD pair is about to complete a Head and Shoulders (H&S) pattern, trading within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The 1W RSI is far from its Buy or Sell Zone (long-term) so on the more medium-term the best approach is to trade the break-outs. The neckline of the H&S is at 0.933250 so a candle close above it invalidates the bearish bias of the pattern (H&S is a bearish reversal formation). In that case, we will target 0.95500 (Resistance 1) and a new closing above it will target 0.97500 (April 20 2021 High). Until the pattern is invalidated, look for a confirmed bearish break-out below 0.90450 (Support 1) and more importantly the 1D MA200 (orange trend-line). In that case the target will be 0.88700 (Previous Low). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
AUDCAD and FOMC, what is the link between the two?Hey Traders, Today we are coming across an important event which is the FOMC, so what is the link between the rates decision and AUDCAD? the rates decisions have an impact on the AUDCAD since the american indices have a positive correlation with AUDCAD, if the meeting today is dovish that means we will have more of a week Dollar, Bullish indices and high probably AUDCAD upsides, in case Fed surprises us with some hawkish comments due to banking sector crisis that will give us more of a strong Dollar, bearish indices since USD and indices are negatively correlated and more probably downsides on AUDCAD. Technically we are watching a retrace of a potential breakout that is more likely to happen if we have a dovish statement (0-25 bps) followed by fed speaking (dovish comments). Feel free to ask any question in the comment section!
Long
by JoeChampion
8