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Audcadsell

AUDCAD, 4hr tf, head and shoulders reversal to materializeHello my friends, Another setup for next week is AUDCAD pairs. As you can see, price finally make a lower high lower low after moving higher for 1 month. This mean we could see some retracement on this pair. It is also supported by the chart because there is a head and shoulders pattern forming. Price already broken below the neckline. We're now waiting for price to retrace first before entering sell. Selling it right away won't yield a good trade setup. We will wait for AUDCAD to retrace around 0.9560 and start selling from there because it will yield 3R trade setup. Set a sell limit pending order at 0.9560, if price never comeback to touch our order then we will skip this trade. Sell limit AUDCAD 0.9560 Stop loss 0.9615 Take profit 0.9390 (3.1R) RR ratio 1 : 3.1 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
AUDCAD - Its like Christmas, here's another! 🎅🎄AUDCAD has been a little choppy for us. 3/4 losers on the bounce. But that's OK, because we understand probability and can see the win rate and trade history. We also know when we get a winner this will cover them - because we ride that trend. Could this be the one? Our algo thinks so, it's identified a sell position with all of the confluences now met. This is easy right? No lines, no S&R - no analysis, all I have to do is follow it. The major plus point is I can see it works with all the data within the strategy tester. This helps me and our traders have confidence and belief in our execution. When do we close this? We close on a reverse signal - but you can do as you wish. I don't recommend jumping on random trades you see on TV - that's no plan and you won't have a consistent clear edge. BUT, if you want to - knock yourself out. We have data on this pair on 229 trades Since 2018, 40% have won - which isn't too bad - along with average win and average loss we have in play. Starting with £500 since 2018 trading this just one would have yielded returns of 100% - now I know the past doesn't predict the future - but its a start. And the data is live! The open sell position is showing in open P/L. Multiple targets are on the chart too and they're based on ATR. The entry price, SL and multiple TPs are shown on the chart. _____________________________________________________________________________________________________________________________________________ What is our strategy? Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term. The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc. This could be on your phone trading view app, or laptop of course. The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy... What does this mean? It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management. The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow. We just have to do what Percy does. Intrigued? I bet, have a look at the related ideas or drop me a DM for more info.
Short
by pow_removetheguesswork
AUDCAD short opportunity We can see a W formation on the weekly chart and we can expect the market to go and test the neckline of W formation. AUDCAD is very bullish right now. So, we want to see AUDCAD reverse and make a retracement before continuing further. But, from the daily chart, we can see AUDCAD breaking the 0.95750 resistance level and making a higher high. So, not a good time to take a short. If we are to take a short we have to see the market shift first from bullish to bearish in the daily chart.
Short
by rafi_trader21
AUDCAD: BULLISH Power Fading...Great Short Opportunity!!!From our previous analysis, you can see that we managed to predict the BULLISH movement made by AUDCAD and we were looking for movement till this resistance zone. This will be an update from my previous analysis so if you yet to read it do check it out. Currently, what we saw from AUDCAD is BULLISH movement trying to breakout from this resistance zone but we saw some struggles which now give us a great BEARISH outlook. AUDCAD price level was unable to break this ichi cloud showing BULLISH strength. In fact, we see price starting to move downward from here. I will be looking to make a good SELL trade to the support level @0.9405 where I potentially see a trendline forming if AUDCAD will like to break up higher. I will update further movement at a later date as of now I will short this pair to the support zone. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
AUDCAD It will go to the rising trend line +180 PipsWelcome Back. Please support this idea with LIKE if you find it useful. *** It may head to the downside to retest the rising trend line, in case the trend is not broken, it will head to the upside and greater resistance will form than the previous one. *** Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. *** The information given is not a Financial Advice.
Short
by Saeed966
2
AUDCAD - SHORTAUDCAD is on a downward trend and is capped by the fibbo resistance around 0.9410 and the downward trend line just below that. The asset remains responsive to risk off mood which we could see play out with the current volatility that lies ahead around the US election. We saw it test the 0.9347 fibbo support a few days ago and have since bounced. I remain a seller of the rallies as I feel that the market is trading a blue wave at the moment and therefore and change of view no matter how big or small, will cause a risk off mood and this trade should come into play. I have opened a short at 0.9360, SL 0.940 (on the close) and finally a TP 1: 0.9347 TP2: 0.9303.
Short
by WhosPipsAreTheseAnyway
AUDCAD ON A GREAT BUT RISKY ZONEAUDCAD The price its at an important zone right, if you look at the weekly chart you’ll see that the price has respected this zone before at the same time of the year on a few years back and it was also consolidated there back in June 2020, so because of this we can expect anything from this pair but im hoping for the price to continue its movement on the down side and reach the targets. If the price respects the zone and uses it as a floor then we will be looking for buys, until then let’s wait for the retest of the zone as a ceiling before taking an entry. . . . . . El precio esta en una importante en este momento, si nos vamos a ver la gráfica en una temporalidad mayor como la semanal o mensual podemos ver que el precio ha respetado esta zona en el pasado en este mismo tiempo del año de hecho el precio estuvo consolidado en esta zona tambien en Junio 2020, es por esto que podemos esperar cualquier cosa de este par al estar cerca de esta zona, pero yo espero que el precio siga su movimiento a la baja y logre tocar los targets. Si el precio llegase a respetar la zona como un piso entonces ahi estaríamos esperando compras; hasta entonces sigo esperando el precio respete la zona como un techo y siga bajando, pero primero esperemos su retesteo antes de buscar cualquier entrada.
Short
by anaju17
AUDCAD - SHORTAUDCAD is on a downward trend and is capped by the fibbo resistance around 0.9409 and the downward trend line just above that. The asset remains responsive to risk off mood which we could see play out with the current volatility that lies ahead around the US election. We saw it test the 0.9347 fibbo support yesterday and have since bounced. I remain a seller of the rally's. I have opened a short at 0.9380, SL 0.9420 (on the close) and finally a TP 1: 0.9347 TP2: 0.9303.
Short
by WhosPipsAreTheseAnyway
3
AUDCAD, daily tf, double top pattern to materializeHello my friends, Today i got a nice setup fo AUDCAD pairs. Before i start my analysis i am gonna review some of my trading positions that i shared with everyone here. Yesterday was a great day that so many positions hit take profit and i banked some decent profit. In total it was +18% profit and it consists of: 1st is GBPJPY pairs for +120 pips banking +4% profit 2nd is XAUUSD pairs for +300 pips banking +6% profit This setup take some times to materialize but it was worth the wait. 3rd is CADJPY pairs for +125 pips banking +10% profit This trade stop loss was only 25pips as we get into it at a very good position. I closed my position at 78.50 as it has already gave decent profit I am planning on selling it again once i got some retracement on this pair. 4th is EURAUD pairs which take my stop loss for -70 pips yielding -2% loss This trade take my stop loss before going in favor with my direction. After taking my stop loss, i managed to jump into it once again and now it is going in my favor again. As you can see, there is no way we could get 100% right all the time but if we managed the risk properly we will get positive results. This par made an obvious double top pattern and price already broken below the neckline/support zone. This upwards movement is a retest of broken neckline in my opinion. This is a textbook trade so we don't need to analyze it in a complicated way and just keep it simple. The measured objective of this pattern is 230 pips to the downside and it is not completed yet. So we will sell it again to see if this objective gonna be completed or not. Sell AUDCAD 0.9400 Stop loss at 0.9450 Take profit 0.9200 RR ratio 1 : 4 (4R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
2
AUDCAD 2 IN 1 AUDCAD On a bigger picture the price is walking a channel on a downside but right now its making a retracement to reach out the bigger dotted line to then come down again and reach our target near level 0.9324. So we might have a 2 in 1 on this chart, we can take a long from this point to our purple line and then take the sell. . . . . . . Desde una perspectiva mayor el precio esta caminando en un canal hacia la baja y ahora esta haciendo un retroceso para tocar la linea mayor del canal para después de esto volver a bajar y tocar nuestro target cerca del nivel 0.9324. Asi que podríamos decir que tenemos un 2 en 1 en este análisis ya que podemos tomar una compra hasta nuestra zona morada y luego después de ahi nuestra venta.
Short
by anaju17