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Audcadanalysis

AUDCAD long trade idea Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
4
AUDCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
AUDCAD: Retest Movement Incoming....AUDCAD managed to move down as expected to the support zone (green). As of now, I am seeing a short term retest for this pair to an important support level it broke @0.9405. Before any continuation, I will be expecting a retest to this zone. Further movement will determines if AUDCAD made a breakout to move down lower or a fakeout if we see price level respecting the broken support at 0.9405 by moving back higher. As of now, a short term BUY opportunity is valid. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
by YGForex
1
AUDCAD - Expect UpriseI would like to see a slight pullback to re-test the previous order block-level marked. The SL is protected by the daily ATR range and the TP is at a strong daily demand level. If we see price retrace slightly more I may consider setting a buy limit in hopes of getting a wick entry on this pair. The only thing that could be potentially detrimental to this idea is the AUD employment change figures on Thursday, so fingers crossed this setup will become available early in the week. COT Data - 56% Short
Long
by AlkalineFX
Elliot Wave: AUDCAD Heading Higher In Wave iii of 5.AUDCAD reversed from the demand zone and completed a 5-3 wave cycle. According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend! The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5. Entry Ideas! The green lines are the confirmation level for the bulls. The red line is the invalidation zone. What's your view on AUDCAD? Let me know in the comment.
Long
by Veejahbee
AUDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Market reached resistance level that had pushed price way down last time, price is now moving down for correction. We can see W formation and expect drop to test the neck. Placing FIB on last monthly bullish impulse we can expect correction till 0.382 level which is beyond neck of W, our target. W > Price has made 3 attempts to break monthly resistance and after failing moved down creating two LL. Placing FIB on last major weekly bullish impulse we can see that price dropped till 0.618 level (1st LL) and moved up to test weekly resistance again. We are in a bearish trend and have target as neck of W formation, however we have weekly demand zone on way down and can set this level as our 1st target and neck of W formation as our 2nd target. D > We saw an M formation and after creating 2nd LL price moved up to complete the formation, we expect continuation of bearish trend. However price failed to break support level and moved upwards after rejection. As per COT AUD saw closure of major Long and addition of few Short positions, reducing net positions, N-R saw closure of both Long and Short positions and Commercials saw addition of Long and closure of Short. AXY was weak for the said week however it improved its position last week. CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. Price is failing to continue with bearish move because of weak CAD, unless CAD gains strength AUD will continue to dominate this pair. 4H > Price made 3 attempts to break support level and has failed. In short term price can move up to test daily supply zone and after capturing more liquidity can make another attempt to the downside. Recommendation > Price can move up, about 50 pips to test supply zone, hence short term target is Long but long term target will continue to be Short (2 targets). It is recommended to monitor price action for Short since CAD is weaker than AUD at the moment. Pair Correlation > AUDCAD has positive correlation with NZDUSD, AUDUSD and NZDCAD and negative correlation with EURAUD and GBPAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX