AUDCAD - TRIPLE TOP 📉Hello Traders ! On Wednesday 15 May, The AUDCAD reached a resistance level (0.90994 - 0.91174). The price formed a triple top pattern. At the moment, the neckline is broken. The support line is broken. So, i expect a bearish move📉 --------------- TARGET: 0.90295🎯Shortby Hsan_Benhmed5515
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.Shortby B9A-88652-NisarAhmad1
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. Longby KABHI_FOREX_TRADINGUpdated 221
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. Shortby KABHI_FOREX_TRADINGUpdated 228
Heading into 61.8% Fibonacci resistance?AUD/CAD is rising towards a resistance level which is an overlap resistance that aligns with the 611.8% Fibonacci retracement and could potentially reverse from this level to our take profit. Entry: 0.90910 Why we like it: There is an overlap resistance level that lines up with the 61.8% Fibonacci retracement. Stop loss: 0.91189 Why we like it: There is a pullback resistance level. Take profit: 0.90489 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group. Shortby VantageMarkets7
AUDCAD: OutlookAUDCAD biased on bearish side. Forming Continuity bearish flag pattern. Forecasted price 0.90121Shortby adnanfx146
AUDCADH&S formed that's a reversal pattern & it has now been broken & retested making past support future resistance, there's also an engulfing bearish candle on H2.Shortby beaufordUpdated 339
idea on a chartWW have a great set up where price could possible go AUDCAD price ended the recent bullish rally by facing the major resistance at 0.9125, to form solid obstacle against recording any new positive target and notice the beginning of activating the correctional bearish track and settling near 0.9060. Now, stochastic decline towards 50 level will increase the negative pressures on the price, allowing us to suggest more negative attempts and wait to target 0.9020 and 0.8990 levels.by EZIO-FX3
AUDCAD Bearish Harmonic Pattern - Strategic Trade SetupThe AUDCAD pair is currently exhibiting a Bearish Harmonic Pattern (XABCD), with Point D anticipated to act as a Potential Reversal Zone (PRZ). This analysis aims to identify strategic entry and exit points based on the confluence of multiple technical indicators. Key Technical Indicators Potential Reversal Zone (PRZ): Point D aligns with a significant Key Resistance area, which historically serves as a strong barrier to upward price movement. 4-hour Trend Line: The trend line, which has acted as a pivotal point in previous market movements, intersects at Point D, reinforcing the likelihood of a reversal. Bearish RSI Divergence (1-hour): The Relative Strength Index (RSI) on the 1-hour chart displays a bearish divergence, suggesting weakening bullish momentum and potential for a bearish reversal. Trade Setup Entry Point: A strategic entry is recommended at 0.91113, where the confluence of the aforementioned technical factors indicates a high probability of a trend reversal. Stop Loss: To mitigate risk, a stop loss should be placed at 0.91261, slightly above the resistance level to avoid false breakouts. Take Profit Levels: TP-1: 0.90964 The first take profit level is set at 0.90964, capturing initial downward momentum and ensuring partial profit realization. TP-2: 0.90816 The second take profit level at 0.90816 aims to capitalize on further bearish movement, aligning with intermediate support zones. TP-3: 0.90668 The final take profit target at 0.90668 corresponds to a more significant support level, maximizing potential gains from the bearish trend reversal. Conclusion: Based on the technical analysis, the AUDCAD pair presents a compelling bearish setup with multiple converging indicators at Point D. The proposed entry at 0.91113, supported by a precise stop loss and structured take profit levels, offers a well-balanced risk-reward ratio. Traders are advised to monitor price action closely as it approaches the PRZ to confirm bearish momentum before executing the trade.Shortby trading_jupiterUpdated 2222
Awaiting breaking from the up trend or confirmation to buyAwaiting breaking from the up trend or confirmation to buy. But in all you do ensure to get a confirmation before placing any trade and apply risk management.by Mike0340
Sell for AUDCADDivergence confluence with gold heading down and oil on its wayShortby Drippysnipes3313
AUDCADAUDCAD is in uptrend after break out on 4 hour time frame showing strong upward movement buying is recommended at current levelsLongby kashif19990
AUDCAD analysisIn case of failure, the sales transaction range will be activated! Please be careful!by hamed-aghamirzaei1114
AUDCAD - Accumulation phase ✅Hello traders! ‼️ This is my perspective on AUDCAD. Technical analysis: As we can see here price is in a range for the last couple of days, so I expect we can see a manipulation of sell side liquidity and then price to reject from FIBO 0.618 level for distribution. Like, comment and subscribe to be in touch with my content!Longby Snick3rSD11
AUDCAD in bullish trend AUDCAD in bullish trend expected breakout according to sentiments short playShortby shahmir551117
AUDCAD is approaching a significant supportHey Traders, in today's trading session we are monitoring AUDCAD for a buying opportunity around 0.90600 zone, AUDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.90600 support and resistance area. Trade safe, Joe.Longby JoeChampion8
AUD/CAD for Bullish with Up Trendyou can go long now or wait for break current resistance (Red Arrow) and go long with retest - General Trend is Up Trend - Current Resistance Retested before so may be broken with the weak of CAD - if price fail to break current resistence area it may pull-back to create higher low at area 50:61 fibo (Blue Arrow) have fun :)Longby maxbayne0
Audcad bullishAudcad buys weekly demand tested and continuing the bullish sentiment from 0.9125 to 0.9250 to close trade.Longby projectiwill0
Bullish trend on AUDCADHi traders ..... I think AUDCAD can resume bullish trend on 4H time frameLongby Dr_dany111
AUDCADAUDCAD is currently reversing trend, trade can be executed as it broke trend line .Shortby onlysignals2