Audcadshort
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
AUDCADAUDCAD has broken 4H trend line, bias has changed from bullish to bearish - expect price to fall from here
AUDCAD - Shift is HereWe may actually be ready to witness the long awaited structure shift on AUDCAD. Price wiped out the double top sellers with that strong liquidity push to the upside as well as trapping more sellers at the ascending channel break. I would assume this is enough for the banks to now create a strong move, we may see a slight pullback before continuation.
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.
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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.
AUDCAD W1 DEC 2020AUDCAD
Short Setup
Harmonic pattern with a target of 50.0%-61.8% of the previous structure
AUDCAD - Day trade signal by Keltner 1/12/20201. How to fill color the Keltner Channel:
...All Upper, Basis, Lower inscreased to fill green.
...All upper, basis, lower descrease to fill red.
...One of the Upper, Basis, Lower is not the same direction fill gray color.
2. How to calculate a Trend:
...If the Total of 25 candles > 0 to give Uptrend.
...If the Total of 25 candles < 0 to give Downtrend.
3. How to entry.
- Buy's entry when the Color is up and the price crossunder the Basis.
- Sell' entry when the Color is down and the price crossover the Basis.
4. How to calculate the Stoploss and Take profit:
AUDCAD Break and RetestBroke and retest of structure and previous low in structure
Have an Sell Limit placed in that zone
Going for a trailing SL with a starting SL of 20 pips and a Open TP
AUDCAD SHORT AT OB (beginner)AUDCAD approaching OB, gonna sell here and TP at an imbalance. Will comment higher tp levels if trade goes okay,
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.
Analysis AUDCAD#100
sell range: 0.96411
Targets: 0.96221- 0.96031- 0.95841
Stop loss The first goal: the profit to loss ratio is 1: 1 (0.96601)
If the first target is touched (close one third of trades)
Stop Losses Second and Third Objectives: 0.96411(Entry Range)
, If the second target is touched (close another third of trades)
And if the third target is touched (close the deal)
AUDCAD SHORT - PRICE IS LOSING MOMENTUM AT DAILY LEVEL!AUDCAD has been moving very correctively on the H4 timeframe and is starting lose its overall bullish momentum and a bearish reversal is on the cards now. We are currently at a daily level of resistance and if we start to see strong bearish price action coming into the market we could see a move lower as price finds support to continue in its bullish trend. If we do see a move to this level we could then see price continue in its uptrend and we could get a longer move back to the highs that we were trading at previously during the middle of September.
AUDCAD DOWNAUDCAD
The price is right now on a previous zone that has been used a selling zone, therefore I believe the price will make the same movement on the downside and reach the purple zone near 0.95058.
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El precio en este momento esta en una zona que ha sido usada previamente como una zona de ventas, es por esto que considero que el precio repetirá el mismo patron a la baja y lograra llegar a la siguiente zona morada por el nivel 0.95058.
Short on Pullback-Ascending TL, retest expected
-0.5 fib retracement
-Strong area of S&R
-MA50 shifting momentum
AUDCAD W4 NOV 2020AUDCAD
Short Setup
Harmonic pattern. Target only aim for 50.00% fibonacci retracement.
AUDCAD Short after Hitting ResistanceAUDCAD just hit a resistance line where we can take a short-term sell opportunity. Although the 4H chart created a double bottom pattern, we could catch a pullback which is a bullish pattern, we could catch a pullback. I don't normally use and trust indicator much but MACD is a well-performed indicator and has shown a short entry in the 1H timeframe.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Entry: 0.95646
SL: 0.95947
TP: 0.9515
AUDCAD AGAIN?This came up again to my original short position and has now made a double top, will be looking for this to fall now if we cant break above 0.9580
