Audcadsetup
AUDCAD confluenceLooking for a short due to a confluence of numerous resistance lines and also the 61.8 level on the monthly chart.
AUDCAD Under RadarThis pair has been in an uptrend for a couple of days. Now that the candles closed below the 26 EMA, I see a possibility of reversal. At this moment, we watch the pair and the movements. When the right time comes, we barge in.
AUDCAD: PATTERN + RSI OVERBOUGHT = SELL /Great risk reward ratioYOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
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AUDCAD @ support zone : Long Entry SetupWe have very simple trade setup here - after our rectangular range breakout,AUDCAD came downwards giving us around 70pips profit and now in support zone, so pullback to 1.0050's ? Lets see...won't we get another 50 pips in this move... Enter on valid confirmation as per your trade plan with proper stops
Happy Trading !
AUDCAD : Rectangular range formation - Breakout soon ?AUDCAD is ranging for past 24hours in hourly timeframe, so I expect a breakout out of this rectangle. We can enter the breakout direction once we have valid confirmation. Keep this AUDCAD in your radar and watch closely, enter on the breakout with stops.
Happy Trading !
Long it, best risk/reward ratio !I posted this late, so am already in profit but this is just the beginning we got lot more to go !
Trend line broken in 4hrs and daily time frame & it has already retraced, its ready to be bought.
MACD crossing in daily time frame.
perfect risk/reward ratio.
Long on AUDCAD using Fib and trendlinesUsing only technical analysis, found some confluence between daily trendlines and a Fib retracement @ 61.80% on a daily chart. I believe that price may bounce on the middle trendline targeting the upper channel resistance trendline. Stop loss is placed on the Fib @ 50%. Will however be prepared for price to break the middle trendline, and in that case wait for the next setup in the direction of the uptrend that is the bounce of the lower support trendline.
Long Term Short OpportunitiyThis is another trading opportunity that has caught my attention. I am expecting this pair to drop lower once it completes the last upward leg and if it does not violate the psychological level of 1.02 which coincides with 88.6% Fib level will give us another opportunity to short this pair with an excellent risk to reward profile. However, both currencies are commodity based driven. Australian dollar which derives its majority of the value from iron-ore prices and concurrently Canadian dollar which is dependent on the crude oil prices. While I don't expect a major rebound in crude oil prices anytime soon, I am expecting the Australian dollar to put on a nice rally. The iron ore prices have rebounded from its all-time lows. So, I am expecting this pair to reach 1.02 levels before it falls off. Let's see how this trade plays out.
