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Australian Dollar/Canadian Dollar

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AUDCAD trade ideas

audcad idea if breakout *** We note that the price touched 0.8849 twice since August 8, 2024, once on the same date and once between January 10 and 13 of this year, forming a resistance area that the chart could not cross. *** In the event of a breakout from the top of the chart, we wait for the price to return from the BEARISH OB area, and in the event of a breakout, it will reach the highest area in this bearish chart HH POINT *** The price will reach the LL POINTS area to take its liquidity from it to reach HH POINTS ****Give me your opinion in the comments****
Long
by NABILFX_
AUDCADhello trader, the price is consolidating downward after price reached the resistance, this is possible bull flag... but again with upcoming news of RBA cash rate on 02/18... the price could retest the support to make double bottom... or the price can breakout of consolidation and become bullish... no confirmation yet as price is in between main support and resistance so best to wait it out... overall I'm looking for buy position here.. just an idea for now to prepare you for your trade... good luck
Long
by baigxy
1
AUDCAD Bullish Pennant Formation and Expected Breakout AnalysisAUDCAD BUY Entry Point= 0.90000 Stop loss = 0.89500 AUDCAD is currently trading at 0.90000, with a target price of 0.91500. This setup suggests an expected upward movement of 150+ pips. The market is forming a bullish pennant, a continuation pattern indicating potential for further gains. A breakout from this pattern is anticipated, which could drive prices higher. The breakout confirmation will strengthen the bullish sentiment, increasing the likelihood of reaching the target. Traders should monitor volume and momentum indicators for confirmation. Stop-loss placement is crucial to manage risk effectively. If the breakout is strong, the price could move swiftly towards the target. Patience and proper risk management are key to capitalizing on this setup. Overall, a bullish outlook is expected upon a successful breakout.
Long
by AndrewsMarket-Mastery
1