AUDCAD bounced off top of channel as expected (see past AUDCAD idea linked).
This trade profited over 100 pips.
Waiting on a break of .9500 area and a close under it. This will confirm more selling to the bottom side.
1. Weekly trend is still downwards.
2. Weekly RSI overbought, now in a strong sell zone
Once we have a break of channel, sell...
The price has come down the way we wanted to and right now Im hoping for the price to reach the green line near level 0.95305 and go back up again. What are you thoughts?
El precio hizo lo que estábamos esperando al bajar hasta la linea de tendencia negra y ahora espero que el precio llegue a tocar la linea verde cerca del nivel 0.95305 y vuelva a...
AUDCAD is following along a bullish trendline, presenting an opportunity for bulls to go long once price reaches the supportive trendline again. A stop loss can be placed a few pips below the supportive trendline to minimise risk, with a first target 50% to the previous high and a second target at the previous high.
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Hope you all have a fantastic day !
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AUD/CAD has been in strong uptrend recently. However, as pressure applies for AUD we believe this pair will test ascending channels support and maybe will even breakthrough this channel.
Welcome to our weekly trade setup ( AUDCAD )!
Bearish reaction after forming new highs.
Good long entries after pullback.
Overall bullish market after a pullback, expecting another push to the upside.
ENTRY LEVEL @ 0.95410
SL @ 0.94860
TP @ 0.96210
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels -...
The market gave us a reversal candlestick pattern at 0.96000 resistance. RSI confirmed the price reversal in the overbought zone. MACD looks bearish, and it is going to support a downward movement. DMI is bullish, but ADX line is moving down. It tells us that buyers are not so strong, and we can expect a downward movement.
If the price breaks the local uptrend...
Bearish movement occurred on AUDCAD Pair after forming 3 drive bearish pattern
Price rebounded from overbought region
It's expected for coming correction to target first key level at 0.9430
then finally target demand zone at level 0.9280
If the price will show a pullback to the Key Level we can open Buy entry.
- the global and local trends are bullish;
- the Key Level was broken with a huge candle after some squeezing;
Potential profit will be 3 times bigger than the risk.
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