AUDUSD 2H Buy longAUDUSD 2H Buy long
Reason for going long:Chart trading system (up channel ) + Harmonic pattern (bullish bat pattern) + Volume distribution trading system +SMC order block strategy (bullish order block) + Price trading behavior (waiting for confirmation of bullish candlestick pattern)=Going long
The entry level for AUDCAD is around 0.92000,and the stop loss level is set at 0.91800.
The first target is around 0.92786,halving the warehouse and promoting protection.
Look around 0.93300 for the second target position,then halve the position and push for protection.
Look around 0.93888 for the third target position,then halve the position and push for protection.
Follow the tail position and reduce the positin for protection.
CADAUD trade ideas
AudCad Trade IdeaAC at the moment is bearish on the smaller time frames but is still overall bullish on higher time frames. Going short on the pair after the pullback is possible but there is a daily HL around 92000 so I would definitely wait on price to show more after tapping into the daily HL. Ideally I would like to short the pair AFTER price breaks below the daily HL. We'll see what happens.
AUD/CAD Buy Setup Awaiting Bullish TDI ConfirmationAUD/CAD monthly structure on the daily timeframe is currently displaying an OLHC pattern, which signals a potential buy setup.
We are awaiting a bullish TDI cross to confirm the presence of buyers in the market.
My target for this trade is set at 0.91063, which also corresponds to the monthly open on the daily timeframe. As always, exercise caution while trading.
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AUDCAD Bullish ContinuationAUDCAD price seems to exhibit signs of Bullish continuation.
Bulls may eventually face a strong resistance zone around 0.9408 till 0.95485. If there is considerable Bullish momentum in this price zone, chances of TP2 may increase. Till then, opportunity may be seized by the Bulls.
After the Bulls surf the potential wave till TP1, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels which increases the importance of moving SL to Break Even if TP1 hits.
Till then, opportunity may be seized by the Bulls.
Trade Plan
Entry @ 0.92795 OR CMP
Stop Loss @ 0.9179
TP1 @ 0.9381
TP2 @ 0.9482
No. of Trades: 2
Move SL to Break Even if TP1 hits.
AUDCAD: Bearish Reversal Confirmed?!The 📉AUDCAD shows several indications of bearishness in intraday chart, the pair formed a rising parallel channel pattern and a cup & handle formation.
Both the trend line and neckline of the cup and handle pattern have been violented, suggesting the possibility of further declines.
The next support level to watch for is at 0.9190.
trend continuation to weekly supplyGood day traders, my AUDCAD analysis shows me an upcoming bullish movement and here's why on the H4 timeframe the market is currently trending bullish and it hasn't reached our Supply zone on the Weekly chart meaning there's a high chance it'll still continue to go up. H1 has shown a bullish candlestick confirmation so I'm anticipating a buy with a stop-loss below the support
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AUDCAD: Leveraging Probabilities for Strategic Long PositionsKey Fundamentals Supporting Bullish Bias:
- Recent strength in commodity prices, particularly iron ore, benefiting Australia's export-driven economy
- Expectations of a less hawkish stance from the Reserve Bank of Australia, potentially supporting economic growth
- Relative weakness in the Canadian dollar due to concerns over the housing market and oil price volatility
By utilizing probabilities in chart analysis, I can identify optimal entry points for AUDCAD longs while managing risk effectively. This approach allows for a more systematic trading strategy, aligning with the current bullish bias in the AUDCAD pair.
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