If this week AUDCAD can form reversal candle pattern, it may give us an opportunity to short. The ideal place to long again is the yellow zone where it has Fib ratio of the ABC structure as well as the support in red line. * This is my personal homework only, not an recommendation.
A bearish cypher heading towards D completion. SL above D and aiming for 2 targets. First at 38.2 of fibo C-D and second based on structure and bullish trendline. Once we reach the green-marked zone below I will go bullish on this one with target 1.00500
We have very simple trade setup here - after our rectangular range breakout,AUDCAD came downwards giving us around 70pips profit and now in support zone, so pullback to 1.0050's ? Lets see...won't we get another 50 pips in this move... Enter on valid confirmation as per your trade plan with proper stops Happy Trading !
AUDCAD is ranging for past 24hours in hourly timeframe, so I expect a breakout out of this rectangle. We can enter the breakout direction once we have valid confirmation. Keep this AUDCAD in your radar and watch closely, enter on the breakout with stops. Happy Trading !
Continuing upward trend. Double bottom formed after Elliott wave formation ending on support line which signals a breakout moment. Aiming for .98800 TP.
AUD/CAD - Daily Chart Analysis - Waiting a Breakout If the price broke the trend line with a breakout candle, enter LONG . Take profit 1: @0.99860 Stop loss @0.95160 If the price bounce on the trend line enter SHORT . Take profit1: 1st support @0.94500 Take profit2: 2nd support @0.93400 Stop loss: @0.9800 Have a nice trading! gg.
Overall, the pair had formed a symmetrical triangle and is currently trading within the triangle's range. Price bullishly broke the ichimoku cloud which suggests bullish momentum in the works. Around 0.98605 price might find some resistance based on the triangle's diagonal resistance, and then maintain some bearish power (pullback) up until around 0.96663. The...