Audcadforecast
AUDCAD LONG! Multiple Opportunities On 4HrPrice is at the moment trading below a trendline that's due for test.
Break of trendline to upside validates upside targets above trendline.
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AUDCAD (MEDIUM TERM) TIME TO BUY?The pair to me looks like its getting tightly squeezed into this type of falling wedge, can we see a correction to the medium top channel and maybe a break above towards the impulsive leg? The pair for me is still bearish and i will be watching it closely as their may be some kind of shift in momentum towards the upside and a continuation possibly for a little longer than short term. If you are going to trade this, i suggest you watch it as bulls have not been strong at all
2 short trades for #AUDCAD#AUDCAD touched an important resistance and the upper trendline of the bearish channel on Daily.
Maybe, it's not enough to enter for a short but we can start to build our "cage" with low size.
The strong bearish movement will probably begin from 0.9033 which is a previous high impulse (Jan 23rd).
So we can suppose for a double trade:
1.
Entry point: 0.9033
SL: 0.90513
TP1 0.9001 (for an Intraday Trade)
TP2 0.888
2.
Entry point: 0.8986
SL: 0.90513
TP1 0.888
TP2 0.882
AUDCAD SELL AUDCAD sell - looking for rejection around either the 61.8% or the 78.6% for it to roll over to the downside. Watch the region of the two purple boxes for a doji or spinning top formation on the 4hr time frame to take a short position.
Take partial profits at the 0% -20% and finally the -61.8%.
180 PIP gain 5.5/1 RR
Trading Pathways Analysis of AUDCAD H4 Chart
The outlined white arrow pathway is the predicted pathway that the AUDCAD will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at HIGH PROBABILITY turning points where AUDCAD will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS INCURRED BY FOLLOWING THIS ANALYSIS IS AT YOUR OWN RISK.
Eiseprod of Trading Pathways