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AUDCAD trade ideas

AUDCAD Short Trade SetupA short trade opportunity recently presented itself on the aussie-loonie trading chart. This is occasioned by the bearish order block which acts as a resistance zone preventing any further upward price movement, the bearish engulfing candlestick pattern just inside the bearish order block and the fair value gaps in the uptrend prior to the price reversal. The upward FVGs create a price imbalance which price will try to compensate for by moving downwards. These three confluences indicate the likelihood of a downward price movement. With an entry price of 0.92390 or thereabouts, a stop order at 0.94059 (just above the most recent swing high indicated by the pivot point at 0.93772) and a profit target (0.88618) close to the level of one of the lowest most recent swing lows (just above the bullish order block which acts as a support zone to prevent any further downward price movement), we could potentially be looking at a 2.26 RR ratio or higher. That's 166.9 PIPS risk (SL) and 377.2 PIPS target (TP). Alternatively, you could decide not to set any TP and just trail your stops to make the most out of the market. As always, please apply appropriate risk management depending upon your trading account balance, your risk appetite and other important factors.
Short
by charles-okoukoni
2
AUDCAD / H1 / SHORTAUDCAD may experience a downturn from the Bearish Order Block Bearish Order Block: 0.92801 - 0.92616 Bullish Order Block: 0.92069 - 0.91963 The price is approaching the Bearish Order Block, and based on the current market setup, there is a likelihood that AUDCAD will decline once it reaches this area. However, if the price reverses toward the Bullish Order Block, we can expect upward momentum. Let’s monitor how the price reacts after touching the Bearish OB. Entry Limit Price :- 0.92613 Take profit :- 0.92265 Stop Loss :- 0.92961
Short
by PraveenTrader1
Turtle Soup ICT concept We have a great chart Marked up.As the North American session begins, the AUD is the strongest and the CAD is the weakest. The ECB will announce its rate decision at 8:15 AM ET, with the expectation for a 25 basis point decline ECB expected to lower deposit rate by 25 basis points from 3.50% to 3.25%, with markets pricing nearly a 100% chance of this outcome. The sentiment has swayed to a cut after the ECB pattern was to cut in June, no cut in July and cut in Septembers . September PMI data was much worse than expected which started the sway. Inflation for September contributed to this dovish outlook with the headline falling to 1.8% from 2.2% and the core falling to 2.7% from 2.8% . A number of ECB members have hinted at the cut
by EZIO-FX
AUDCAD Will Go Down! Short! Please, check our technical outlook for AUDCAD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 0.925. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.917 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1