AudCad Trade IdeaI personally entered on some long positions for AC with price ranging between two solid levels. Entry for was a respect of support level with a clear structure flip. Price not only failed to break below support giving us a solid rejection but also broke above a lower high showing a clear change in direction. I'm personally looking for a 1:3rr here with targets being around a level of resistance.
CADAUD trade ideas
Heading into 61.8% Fibonacci resistance?AUD/CAD is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support level which acts as an overlap support.
Pivot: 0.92526
1st Support: 0.91758
1st Resistance: 0.93021
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AUDCAD Expected Growth! BUY!
My dear friends,
My technical analysis for AUDCAD is below:
The market is trading on 0.9187 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.9226
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
AUDCAD Update: Target Hit! Great news, traders! The AUDCAD pair has reached our target of 0.9226, as anticipated. 🚀
Trade Overview:
Entry Point: 0.9187 (Pivot Level)
Target Hit: 0.9226 🎯
Market Sentiment: Bullish
Both the Super Trend and Pivot HL indicators accurately signaled the upward movement, and the market delivered, hitting our target with precision. 📈
What’s Next?
With our target met, this is the perfect time to secure profits.
Watch for potential retracements or further bullish continuation, depending on market conditions.
Final Thoughts:
Successful trades like these remind us of the importance of following the trend and trusting our analysis. Congrats to everyone who capitalized on this move! 💼
Happy trading and here’s to more winning trades! 💹
Bearish reversal off 61.8% Fibonacci resistance?AUD/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement an could reverse from this level to our take profit.
Entry: 0.92436
Why we like it:
There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 0.93007
Why we like it:
There is a pullback resistance level.
Take profit: 0.91787
Why we like it:
There is an overlap support level.
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AUDCAD ShortsAUD/CAD Analysis
• Daily Timeframe: The pair is currently in an uptrend, following a trendline that has been respected so far. This indicates overall bullish momentum.
• 4-Hour Timeframe: A pullback appears to be underway, suggesting the price may retrace and test the trendline again. Recently, the pair formed a higher high, and I anticipate the formation of a higher low as part of the ongoing trend.
• 1-Hour Timeframe: The price recently broke a key support level on the 4-hour chart. This level is now being tested as a new resistance, indicating a potential reversal zone. The current move appears to be a bounce from the previous support-turned-resistance, setting up for a short-term move downward.
Trade Setup: This setup provides a potential risk-reward ratio of 1:4 for a quick trade to the downside. I’m expecting this scenario to play out before the end of the week.
AUDCAD Analysis: Technical Framework Supporting Bullish BiasCurrent Market Position:
The AUDCAD currency pair is currently trading at the 0.9187 pivot level.
Market Bias:
Bullish - The outlook indicates a strong potential for upward movement.
Technical Indicators:
Both the Super Trend and Pivot HL indicators are signaling a high probability of bullish continuation. This suggests that the market may maintain its upward trajectory in the near term.
Target Price:
The immediate target is set at 0.9226. This level represents a logical point for profit-taking should the bullish trend continue.
Explanation of Indicators:
Pivot Points are critical technical analysis tools that help traders determine the overall market trend across various time frames. They serve as potential support and resistance levels, assisting traders in making informed decisions based on market movements.
Conclusion:
With strong bullish signals from both the Super Trend and Pivot HL indicators, traders may look to capitalize on potential upward movements in the AUDCAD pair.
Wishing you all the best in your trading endeavors!
AUDCAD - Long idea !!Hello traders!
‼️ This is my perspective on AUDCAD.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look for a long. I want price to continue the retracement to fill the imbalance and then to reject from OB.
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AUDCAD / H1 / LONGAUDCAD may go upward direction.
Bullish Order Block: 0.92765 and 0.92562
The AUD/CAD pair may move upward from the bullish order block. It’s a good time to consider opening a long position, as there are higher chances of the asset’s price moving up. Let’s see how the price reacts.
I have used the most advanced price action strategy across multiple timeframes to analyze the chart. This strategy has a high success rate in trading.
ENTRY PRICE :- 0.92774
TAKE PROFIT :- 0.93218
STOP LOSS :- 0.92330
Falling towards overlap support?AUD/CAD is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 0.91801
1st Support: 0.91313
1st Resistance: 0.92483
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUDCAD OUTLOOK FOR CAD CPI NEWSOn the verge of CAD CPI news release, AUDCAD islooking bearish while the fundamentals show a bearish CAD hence i see a spike take out previous day low and tap into the daily order block before a sharp move to the upside taking previous day highs and perhaps moving towards the highs above it.
Thats over 50 pips of price movement
comment below whatyou think of this idea as we wait to see what happens