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Audcadsell

AUDCAD IS AT A MAJOR LEVELAUDCAD is at a major level right now, the area of support it is at has been tested and failed to break it multiple times. The overall bias of price action is downwards due to the descending trend line marked out in black. Price is travelling in a descending channel marked out in blue, If price rejects the area of support its at now then we will be waiting for price to break the channel, retest it before we think about any long trade opportunities. However if price breaks below the pink rectangle and comes back up to retest it we will be looking for short trade opportunities. LEAVE YOUR THOUGHTS BELOW.....
Short
by UnknownUnicorn2396129
AUDCAD SET TO COMPLETE THE BEARISH PULLBACK FROM DEC 2018.Hi Traders, The AUDCAD rally that started in Oct 2018 from 0.9107 low can be seen as an Elliot Wave impulse structure, labelled 1-2-3-4-5. According to Elliot Wave Principle, a three-wave correction in the opposite direction follows every impulse. . AUDCAD's seems to be in the corrective phase since 18th Dec 2018 and it's unfolding as a combination. So far, we have seen a (w)-(x)-(y) combination structure in wave W, double zigzag in wave X and wave Y seems to be unfolding as a simple zigzag pattern. . The overall correction in wave (B) is expected to terminate within the blue box and maybe retest the channel support. If this count is correct, a 5-3 wave cycle will be considered to be completed, and the trend can be expected to resume in the direction of the main impulsive sequence in wave (C). . Did you like this Elliot Wave Analysis? Kindly let me know in the comment. . Thanks for reading! Veejahbee.
Long
by Veejahbee
AUDCAD - HUGE BREAKOUT OPPORTUNNITYAs previously stated in our short opportunity trade, price has been travelling in a descending channel and has also been travelling within its support and resistance zones very strongly. HOWEVER - Price broke out of the channel to the upside and also broke above a resistance zone at the same time. we have seen a slight retest downwards which is where we have executed our long orders. We have placed 2 trades, both with different Take Profits which are shown above.
Long
by UnknownUnicorn2396129
AUDCAD 100 PIP SHORT AUD CAD HAS BEEN TRAVELLING IN A VERY MAJOR DESCENDING CHANNEL WHICH CAN BE SEENN MORE ON THE WEEKLY AND MONTHLY CHART. (BLUE CHANNEL) The most recent test on this channel that we just seen was at the top of the channel, on its rally down towards the bottom of the channel price has formed another descending channel marked out in black. All support and resistance zones are marked out above on the chart, we have literally just seen a test of the top of the channel which indicates a short all the way down to the bottom of the black channel. targets are market out on the analysis PURPLE RAYS ARE OUR CLOSER SHORT TERM TARGETS
Short
by UnknownUnicorn2396129
AUDCAD DAILY ANALYSIS AUDCAD DAILY - price has been moving in a large descending channel marked out in blue. Price hit the top of the channel and on its way down it has formed another descending channel marked out in black.Zones have been marked out for you, have fun trading, CREATE A PLAN AND TRADE THE PLAN We could see a move down to the pink highlighted rectangle if price stays within the descending black channel, if price breaks out of the black descending, we will see a move back up to the top of the blue descending channel, and most likely break out upwards out of the blue channel, however we will wait for the BREAKOUT AND RETEST BEFORE PLACING ANY LONG TERM BUYS!
by UnknownUnicorn2396129