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AUDCAD trade ideas

AUDCAD - Triangle Breakout approaching NewsAUDCAD consolidating after some high volatility whipsawing. AUD and CAD news is approaching so may see some volatility prior to the release as traders position themselves based on predictive sentiment and then a recurrence after the news as they factor in reality if not in synch. There is a high likelihood of fake-break and returns to the pattern given the extreme range of opinions displayed through the recent previous breakout-and-reversal.
by fugutrader
AUDCAD | Hidden Bearish Divergence The AUDCAD chart shows the formation of a Hidden Bearish Divergence, indicating that the current uptrend may soon reverse into a downtrend. Additionally, there is high-impact CAD news today with the release of the CPI data. On the chart, there is also the formation of parallel channels. We expect these channels to break soon, supported by the confirmation of the Hidden Bearish Divergence. In summary: 1: Hidden Bearish Divergence: Indicates a potential reversal from an uptrend to a downtrend. 2: High-Impact CAD News: The release of CPI data today could significantly influence the price. 3: Parallel Channels: The chart shows parallel channels, and a breakout is anticipated soon. These factors together suggest a potential shift in the trend, but it's crucial to monitor the news and conduct thorough analysis before making any trading decisions.
Short
by awaisulabdeen
1
audcad sellHere's a bearish technical analysis for the AUD/CAD pair on the H4 chart: 1. **Trend Analysis**: The overall trend on the H4 chart shows a bearish market structure, with lower highs (LH) and lower lows (LL) being formed¹. 2. **Key Resistance Levels**: The pair is approaching a key resistance level around 0.90450, which aligns with the 23.6% Fibonacci retracement level². This area is crucial as it could act as a potential reversal zone. 3. **Bearish Patterns**: A Bearish Butterfly Harmonic Pattern (XABCD) is forming, indicating a potential bearish reversal. Point D, the Potential Reversal Zone (PRZ), is aligned with a key resistance area and intersects a daily trend line². 4. **Indicators**: - **MACD**: The MACD indicator shows a bearish crossover, suggesting downward momentum³. - **Parabolic SAR**: The Parabolic SAR is above the price, indicating a bearish trend³. - **Bollinger Bands**: The price is near the upper Bollinger Band, suggesting an overbought condition and potential for a correction³. 5. **Entry and Exit Points**: - **Entry**: Consider entering a short position around the resistance level of 0.90450². - **Stop Loss**: Place a stop loss above the resistance level at 0.91400 to protect against potential false breakouts². - **Take Profit**: Target significant support levels at 0.89500, 0.88550, and 0.87600². This analysis suggests a bearish outlook for AUD/CAD on the H4 chart. Always ensure to manage your risk effectively and stay updated with market news.
Short
by Mansa_Musa_Capital
AUDCAD may fall further to extend the patternAUDCAD may fall further to extend the pattern AUDCAD is developing a corrective pattern. At the moment it looks like it will create an ABCDE pattern. If the price respects the pattern's upper boundary, we will likely see the AUDCAD to test 0.8940 soon in order to complete the D wave of the pattern. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
6
AUDCAD - On 1D & 1H time frame analysis and trade planAUDCAD has been analysed on two time frames (1D & 1H). In 1D time frame, this pair is making a bullish flag without divergence. So, I did the marking of the bullish flag with purple trend line (Purple colour is my choice for 1D marking and analysis because it is the 2nd colour from right) to know the overall trend of the pair. Then I switched to 1H time frame and 1H analysis and that is the time frame I planned my entry. In 1H time frame the pair of course is in downward trend without divergence (this downward trend is due to the the FLAG of the bullish flag pattern). I planned my entry on the recent downward swing of the trend where it has broken an upward trend line as well as the Support line. There will be an upswing later (due to the formation of the 1D bullish flag and a possible breakout of the flag from where the trend could be in bullish trend in 1D time frame. The Signal is: EP: 0.90021 SL: 0.90465 TP: 0.89580 RR: 0.2% Lots: 0.06
Short
by MuhammadArif039
Should I be selling AUDCADHello traders another wonderful week!! I don't like this trade that much Lets dive deep What we have here is a structure That has held up very but has finally been broken. I'm pretty sure you can identify that this is a downtrend and we are planning on joining the movement. This trendline is carefully placed with 2 touches with the on that I circled being the third touch. That is what I don't like about this trade "It takes 2 to hire but 3 to fire" you should avoid trades with 2 touches. The 50 EMA with default settings clearly shows us that this is a downtrend. One thing I don't like about this trade is that we don't have a divergence on this trade
Short
by Linkhive001
AUDCAD 90 BreakAUDCAD is consolidating in an Ascending Triangle above .90 level. This large round number isn't broken so easily. Short Bias 1. 200 MAV - price is beneath. 2. Confluence 20/50 - confirming bearish price action 3. Triangles - Ascending triangle forming above Support . On a HTF this is a down leg of a much larger Triangular Consolidation. 4. Order Flow - bearish , with likely Drop - Base - Drop pattern looking for the first unmitigated Supply Zone just above .89. 5. Momentum - below 50 A confirmed break of 90 leads to 89.
Short
by Umlingo
AUDCAD possible Short Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - Entry in MAHI Note: * Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H and wait for possible reentry again * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Short
by GreggiBond