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AUSTRALIAN DOLLAR / CAX

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AUDCAX trade ideas

Lingrid | AUDCAD in the CONSOLIDATION zoneThe price perfectly fulfills my last idea. It took off and hit the TP. The daily timeframe is showing a bullish trend, with the market consistently updating higher highs and higher lows. FX:AUDCAD has been consolidating within a narrow range of 0.91000 to 0.90500. It recently broke and closed above the significant level of 0.9000. Given this momentum, I anticipate the market will continue to consolidate within this range, with the potential for a bounce off support and an upward move towards liquidity area above the equal highs. Considering the overall bullish trend, it's likely that the price will rebound from the support level and downward trendline. My target is the resistance at 0.90960 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1
AUDCAD: Watching for Fibonacci Support After Resistance Rejectio The AUDCAD has bounced back down from a key weekly resistance level. This analysis explores the possibility of a pullback towards a Fibonacci retracement level before a potential upward correction. Technical Analysis: Resistance Rejection: The price encountered selling pressure at a critical resistance zone on the weekly chart. This suggests potential weakness in the upside momentum. Fibonacci Retracement: Based on your chart (which I can't see directly), you identified the Fibonacci golden level (around 61.8%) as a potential support zone. Trading Considerations: Confirmation Needed: This is not a confirmed trade setup yet. We need to see how price reacts at the potential support level. A bullish reversal pattern or a daily candle closing above the support zone could indicate a potential uptrend resumption. Risk Management: If a long trade becomes attractive later, prioritize proper risk management. Define entry, stop-loss, and take-profit levels based on your strategy and risk tolerance. Remember: Do your own research before entering any trade. This analysis provides insights, not guarantees. Additional Notes: I can't access the chart you mentioned, but I can still craft a general analysis based on your description. If you can describe the specific Fibonacci retracement level you identified (as a percentage or price value), I can incorporate that detail into the analysis. By combining your insights with technical analysis and risk management, you can make informed trading decisions in the AUDCAD market.
by OMGiTzREALHASSAN
AUDCAD Bullish Study CaseDisclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice. Currently we are in a monthly pullback due to the break of market structure to the downside in a quasimodo type pattern. After refining the entry a little bit in both daily and 4 hour timeframes, see below charts, I refined my entry point of interest to the zone highlighted in white, which is a supply zone.
Long
by jask_skull
AUDCAD high probability setupBefore price's previous break, it was in a consolidation where it eventually swept liquidity below support. It preceded to push to the upside with massive momentum where it eventually consolidated again, forming liquidity above an external range double top(or head and shoulders) and below an internal range support. Since price is currently in a bullish trend, it could look to clear out this internal range liquidity first before clearing the external range liquidity and breaking further to the upside. This gives as an opportunity of a trend following entry, which is an identified golden zone below the identified internal range liquidity with a tp target of the latest high.
Long
by BlackTygaTrades
AUD/CADBearish Gartley Pattern Breakdown: 1. **Definition:** - The Bearish Gartley pattern is a harmonic trading pattern used in technical analysis to identify potential trend reversals in the financial markets, specifically signaling a bearish reversal. It is named after its creator, H.M. Gartley, and consists of specific geometric shapes formed by price movements. 2. **Formation:** - **X to A Leg:** The pattern begins with a significant downward price move (leg) from point X to point A, representing the initial leg of the pattern and establishing a bearish trend. - **A to B Retracement:** After reaching point A, the price retraces upwards to point B, typically ranging between 0.618 and 0.786 Fibonacci retracement levels of the XA leg. - **B to C Leg:** From point B, the price resumes its downward movement, forming the BC leg. This leg typically retraces between 0.382 and 0.886 Fibonacci retracement levels of the AB leg. - **C to D Leg:** The final leg of the pattern extends from point C to point D. This leg typically mirrors the length and direction of the AB leg. Point D serves as the completion point of the pattern and represents a potential selling opportunity. 3. **Key Characteristics:** - **Fibonacci Ratios:** The Bearish Gartley pattern relies on Fibonacci retracement and extension levels to define the proportions of each leg relative to the preceding leg. - **Symmetry:** The CD leg is typically equivalent in length (or proportional) to the AB leg, creating symmetry within the pattern. - **Point D:** Point D serves as the completion point of the pattern and represents a potential selling opportunity for traders anticipating a bearish reversal. 4. **Confirmation and Trading Strategies:** - **Validation:** The pattern is confirmed when the price reaches point D, completing the CD leg. Traders look for additional confirmation signals such as bearish candlestick patterns, trendline breaks, or volume expansion. - **Entry and Stop-Loss:** Traders may enter short positions at point D, with stop-loss orders placed above point X or above the recent swing high. This helps manage risk in case the pattern fails. - **Profit Target:** The profit target for Bearish Gartley patterns is often set at Fibonacci extension levels beyond point D, such as 1.272 or 1.618 extensions of the BC leg. 5. **Example Scenario:** - Suppose a stock price moves from $100 (point X) to $80 (point A), retraces to $90 (point B), then declines again to $70 (point C), and finally rallies to $85 (point D). This price movement forms a Bearish Gartley pattern. Traders may consider entering short positions at point D, anticipating further downward movement. 6. **Limitations and Considerations:** - **False Signals:** Not all Gartley patterns lead to successful bearish reversals. Traders should use additional technical analysis tools and indicators to confirm the pattern. - **Market Conditions:** Market context and prevailing trends should be considered when trading Gartley patterns. Strong bearish trends are more conducive to successful bearish reversals. Understanding the Bearish Gartley pattern and its formation can assist traders in identifying potential bearish reversal opportunities in the financial markets. However, it's essential to use this pattern in conjunction with other technical analysis tools and consider the broader market context for increased reliability.
Short
by B9A-88652-NisarAhmad
Buy AUDCAD Triangle BreakoutThe AUD/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.9075 Target Levels: 1st Resistance – 0.9114 2nd Resistance – 0.9131 Stop-Loss: To manage risk, place a stop-loss order below 0.9160. This helps limit potential losses if the price falls back unexpectedly. Opportunity Breakdown: Triangle Breakout: Price action recently broke above a bullish triangle, a continuation pattern suggesting further upside potential. Retest Confirmation: The price has retested the broken resistance line of the triangle and held, indicating strong buying pressure. This retest adds confidence to the breakout. Ichimoku Cloud Support: The current price sits comfortably above the Ichimoku cloud, a technical indicator that often signals bullish momentum when the price is above the cloud. Thank you.
Long
by KABHI_FOREX_TRADING
2
Sell AUDCAD Symmetrical TriangleThe AUD/CAD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position below The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.9070. Target Levels: 1st Support – 0.9028 2nd Support – 0.9007 Stop-Loss: To manage risk, place a stop-loss order above 0.9090. This helps limit potential losses if the price falls back unexpectedly. Bearish Breakdown: Triangle Breakout Retest: The price action recently broke above a bullish triangle, indicating a potential uptrend. However, it has now returned to retest the broken resistance line of the triangle. This retest often precedes a reversal. Ichimoku Cloud Resistance: The price is currently hovering near the Ichimoku cloud, which can act as a resistance zone. A rejection from this area could further strengthen the bearish case. Thank you.
Short
by KABHI_FOREX_TRADING
2