AUD/CAD Technical Analysis
The counter is currently trading around a strong resistance zone that triggered a sell-off previously.
According to the wave, it has now completed the ABC correction for the down move it made.
Further, the entire setup looks like a head and shoulder in the higher timeframes.
Hence, we expect the pair to move down from here.
Audcadshort
AUDCAD DOWNAUDCAD
The price has respected the channel once more and I believe it will reach the dotted line to come back down again and reach the purple zone. Wait for the retest before taking your entry.
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El precio respeto el canal una vez mas y creo que el precio llegara hasta la linea punteada roja para volver a bajar y llegar hasta la zona morada. Esperen hasta que el precio retestee la zona para tomar una entrada a la baja.
AUDCAD ON A CHANNELAUDCAD
The price is going down on a channel and im hoping for tonight that the price respects the level as a ceiling and continues the way down near level 0.945.
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El precio esta bajando por un canal y estoy esperando que el precio respete la zona donde esta en este momento como un techo y vuelva a bajar hasta tocar el nivel 0.945.
AUDCAD - Day trade signal by Keltner 7 Sep 2020* The signal are tested in 3,5 years. Winrate stability over 52% every year.
Risk: 1%.
* Tradingview's backtest time ~ 3.5 years/Premium account, differs between currency pairs (Cryto is the default backtest time is shorter because the market is open both Saturday and Sunday: about 2 years)
- Base on order: 2 ways to enter or combine both.
Method 1
+ Keltner channel: the price closed above or below Upper / Lower Keltner for signal 1. Wait for the price to adjust to the Basis line, then enter the order.
Method 2
+ Keltner channel: price closes above or below Upper 2 / Lower 2 Keltner gives signal 1. Wait for the price to adjust to Upper / Lower line, then enter the order.
Method 3: combine both, priority 1 if satisfied conditions
+ Pivot option: appear rising signal: Higher High / Higher Low. Decline signal: Lower Low / Lower High for signal 2.
- When the above conditions are met, the Indicator shows a Buy / Sell signal according to the trend.
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- Stoploss: Calculated from the entry point + - actual fluctuation by the formula ATR (20) * risk ratio (risk).
- Profit: Calculated from the entry point of the command + - actual oscillation using ATR formula (20) * reward ratio (reward).
- Profit: Look the Summary below.
- Should be backtest 3 Years (long term), each Year (medium term) and Quarter or 6 months (short term). If each year the success rate is always more than 50%, can be used for actual trading
AUD/CAD in Bearish Formation.AUD/CAD is in a Flag formation, coming out from a leg down, which is expected to result into another leg down.
I am in since 0.95642 and I am taking profit sligthly above 300 level.
For the current setup to remain with a good risk reward ratio, I reccomend taking profit slightly above 0.95220.
Good luck with this trade, looks all good to me!
Tibor















