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CANADIAN DOLLAR / AUSTRALIAN DOLLAR

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CADAUD trade ideas

AUDCAD buy opportunityPRACTICE - Day trading. This is a practice from a new DAY TRADING course I'm taking, for logging purposes. Please do not trade as my analysis might be incorrect. I encourage constructive feedback. If you did trade, make sure the drawing is respected, don't use exact values as they might differ from a broker to another. Explanations: MIN - last minimum point MAX - last maximum point BOS - break of structure SMS - shift in market structure SL - stop loss TP - take profit RR - risk reward OB - order block OB (15) - order block (based on M15) timeframe If you like this kind of ideas follow me for more analysis.
Long
by gabisuciu
Navigating Down: AUDCAD Short Opportunity AwaitsAs we delve into the AUDCAD currency pair, a clear selling opportunity has emerged, driven by the insights from our EASY Trading AI strategy. With an entry price set at 0.90111, we aim for a strategic profit target of 0.89863, while implementing a protective stop loss at 0.9035. The rationale behind this bearish outlook is grounded in several factors. First, recent market trends indicate a stronger bearish sentiment, primarily driven by economic reports from Australia that suggest potential slowdowns in growth. This, combined with ongoing geopolitical tensions, may further pressure the AUD against its Canadian counterpart. Moreover, technical indicators align with our prediction, showing that the pair is currently trading near resistance levels, which historically have led to price reversals. The RSI also indicates that the AUDCAD is approaching overbought territory, reinforcing our decision to sell. For those trading this pair, maintaining a disciplined approach with set risk parameters is essential. By adhering to this strategy, traders can harness market fluctuations effectively while mitigating potential losses. Remember, the market requires patience and discipline; it's not just about the signals, but how you manage your trade that counts. Happy trading!
Short
by ForexRobotEasy
POTENTIAL LONG TRADE SET UP FOR AUDCADAnalysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout. The price has approached a previous swing low zone on the higher time frame (HTF) while moving within a descending channel. On the Mid time frame (MTF), an upward breakout from the descending channel has occurred. We will now monitor for a continuation structure to identify a potential entry point for the trade. Expectation: A upward move is expected, with the target set at the top of the descending channel structure. ⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
Long
by TheTradingAmbience
AUDCADhello trader, the price is consolidating downward after price reached the resistance, this is possible bull flag... but again with upcoming news of RBA cash rate on 02/18... the price could retest the support to make double bottom... or the price can breakout of consolidation and become bullish... no confirmation yet as price is in between main support and resistance so best to wait it out... overall I'm looking for buy position here.. just an idea for now to prepare you for your trade... good luck
Long
by baigxy
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