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Audcadsetup

AUDCAD right on pullback support!AUDCAD is now back to pullback support where it previously broke out from. A possible bounce could occur at this level above major support at 0.9782 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a rise towards 0.9876 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is making a similar pullback to ascending support where a corresponding bounce could occur too. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
AUDCAD surpasses major resistance!AUDCAD has finally surpassed its descending resistance-turned-support line triggering a potential bullish move from here. Our main area of support remains at 0.9782 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could push price up possibly to 0.9876 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) has surpassed our descending resistance-turned-support line triggering a potential bullish exit from here. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
AUDCAD preparing for a strong bounce AUDCAD is seeing major support above our 0.9782 zone (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur above this level to push price up to major resistance at 0.9876 (Fibonacci extension, horizontal swing high resistance). We are seeing intermediate resistance with our descending resistance line and price would need to break past that level to gain further bullish momentum. Stochastic (34,5,3) is seeing major support above 1.7% support but also sees intermediate resistance with our descending resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
Trend & Structure on AUDCADHey guys, this is the 4hr chart on AUDCAD and, as you can see, price has managed to break and close below a key support level (on the daily) @0,9950. Since this happened, we can now expect to see support turning into resistance, following the trend established in the downward direction. This zone also helps us creating a comfortable area where we can have good stops and good potential reward, with a nice RR ratio. The yellow box signals the are where i'm going to consider a short opportunity. If you want to ask questions or comment, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
2
Read the Trend on AUDCAD!Hey guys, this is the 4hr chart on AUDCAD and, as you can see, price has managed to break and close below a key support level (on the daily) @0,9950. Since this happened, we can now expect to see support turning into resistance, following the trend established in the downward direction. This zone also helps us creating a comfortable area where we can have good stops and good potential reward, with a nice RR ratio. The yellow box signals the are where i'm going to consider a short opportunity. If you want to ask questions or comment, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
Double Bottom at Structure!Hey guys, here on AUDCAD price is testing a key support level that pushed prices higher in the past. Therefore i can expect a reaction at this level on lower timeframes, such as a double bottom with RSI divergence like it's happening on the 4hr chart. At this moment price is also creating a nice engulfing candle that could additionally confirm our view. With stops below the lows and target as shown it could be a good buying opportunity. But i'm waiting to see next candle. Keep you updated! If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure trade on AUDCAD!Hey guys, here on AUDCAD price is testing a key support level that pushed prices higher in the past. Therefore i can expect a reaction at this level on lower timeframes, such as a double bottom with RSI divergence like it's happening on the 4hr chart. At this moment price is also creating a nice engulfing candle that could additionally confirm our view. With stops below the lows and target as shown it could be a good buying opportunity. But i'm waiting to see next candle. Keep you updated! If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Another false breakout?-- I was not supposed to trade this pair but I forgot to cancel my orders due to high risk -- At exactly 2017.05.29 04:56 UTC +03:00, my sell limit for this pair -- right at the daily 200sma -- was triggered. Failure to remember I had an ongoing sell stop as well, it was triggered at 09:22 (few minutes from now). Considering that this pair has broken the daily support, possible descend may follow through. However, as seen on the previous days, false breakouts tend to occur within these levels. The possibility of forthcoming descend is 'supported' by the continuing weakening state of the Aussie Dollar -- weak economic data and weak commodity (such as copper) -- along with the recovery-state of the Crude Oil/Brent Oil. Since I'm already in the trade, I will hold my ongoing positions. I do, however, caution you to trade strong pairs v strong pairs, or pairs relating to Canadian Dollar. Better to trade Oil rather than Loonie.
Short
by bearvsbullmarket