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Australian Dollar/Canadian Dollar

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Australian Dollar/Canadian Dollar forum


AUDCAD It shot up sharply
But then horizontal resistance
Of 0.9035 and we are already
Seeing a bearish reaction so
We will be expecting a
Further move down till 0.89990.

Wishing you a good luck guys..
what you guys think about it
AmaWina
AUDCAD Sell AUDCAD here, TP: 0.89752, SL: 0.90197
Snapshot
AUDCAD The price is at solid key level 0.8997, it is bullish from this area. Stop loss at 0.8980 and take buy entries till the target and our goal 0.9045.
wish you good luck guys...
tradercat2025
AUDCAD tradingview.com/x/GieQW9QL/

🔍 Technical Context:
Market Structure:
Price is in a long-term sideways range with lower highs. AUD/CAD is struggling to break above the 0.90–0.91 region, showing signs of exhaustion.

Zone of Interest (Supply):
Purple box: 0.9000 – 0.9100
A clean historical rejection zone that has acted as both support and resistance multiple times since 2022.

Entry Type:
Sell Limit @ 0.9070 placed slightly below the top of the resistance zone to increase likelihood of getting triggered on a spike.

Stop Loss:
0.9175 – above multiple wick rejections and key structure highs. Allows breathing room for volatility without compromising the structure.

Take Profit Targets:

TP1: 0.8650 (conservative target at strong support)

TP2 (optional extension): 0.8500 (major long-term range low)

Risk-Reward Ratio:
~1:3 minimum to TP1, potentially 1:4+ if extended to 0.8500.

🧠 Strategic Notes:
Trigger Conditions:
Wait for a retrace to the 0.9070 zone rather than enter at market open. This is based on the idea that a final upward effort could grab liquidity and fill your limit.

Monthly Candle Watch:
Monday is month-end. Monitor the monthly close to determine if the structure still supports the trade idea. If the close is strongly bullish and you’re triggered early, be open to closing the trade early to avoid deeper drawdown.

Why It’s High Probability:

Multi-year horizontal structure

Repeated failure to hold above 0.90

Candlestick wicks rejecting the same zone

Fundamentals slightly favor CAD over AUD (higher real yields, oil correlation)

Defined invalidation point and asymmetric reward
Snapshot