Tag: AUDCAD analysis

These are a few of the currency pairs I’m currently trading

Forex Market

Hey, how is your trading going?

It’s been kind of difficult to trade the majors in the last few weeks hasn’t it?

Luckily for us, we have plenty of instruments (crosses) to choose from, and some of them have been trading in a ver clear market condition.

And believe me, the most important aspect of trading, even before the entry system, is whether or not you are trading the “right” currency pair.

What do I mean by the “right” currency pair.

Look, you could have perfect timing, but if you chose the wrong currency pair, the market will move against you.

AUDCAD analysis, GBPAUD Analysis

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AUDCAD is one of the crosses I’ll be monitoring next week

There are a few crosses that are trading in a very clear market condition and one of them is the AUDCAD.

As you already know, I try to determine which currency pairs are clearly trading between support and resistance levels, as the AUDCAD, which was rejected from an important support level:

I’ll be looking for long opportunities here until it reaches the next LT resistance level.

What did you think about the market this week?

Have a great weekend!

Raul Lopez

AUDCAD analysis, forex

AUDCAD looking good for longs

Hope you all had a great weekend!

How do you think the market reacted to the Greece austerity plan? Truth be told, I thought the market was going to have larger swings… at least some of the pairs that traded the whole week on a very tight range…

Anyway, last week the AUDCAD broke through an important resistance level triggering a bullish market condition. Now I’m waiting a retracement to the ST support level:

And if it forms a significant pattern with upward pressure, I’ll be going long!

Have a great week ahead!

Raul Lopez
Forex Coaching

AUDCAD analysis, forex

The market is getting clearer! Do you agree?

I really think so, after a few weeks of wild movements, it looks like finally the market is giving us clear moves, plenty of currency pairs are tradable and most of them are trading in between consistent support and resistance levels, which makes it easier to find low risk opportunities.

Do you see the same thing, or is it just me?

For instance, the AUDCAD traded in a short term range for a few weeks, but now it broke the bottom of the range giving us opportunities to look for short opportunities:

I favor two scenarios on the AUDCAD:

A. It could retrace back the ST resistance level, wait for the signal and go short
B. Break the bottom of the range, retrace back and wait for the signal to go short

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis, forex

I’m long on AUDCAD

It’s funny that earlier today I wrote about the clear condition of the AUDCAD, I like both, the short term and long term charts. I’m not going to lie to you, I was kicking myself because I missed a signal off the 15M chart earlier today, but I just got another one, we’ll see what happens:

Here are the details of my trade:

Entry: 1.0259
SL: 1.0227
TP: 1.0481

It’s got a good risk reward ratio – 7:1, I’m risking 1% of my account on this trade, so if this one goes directly to my TP order, I’ll make around 7%.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis

AUDCAD – Long and short term analysis

Hope you all had a great weekend! But now it’s time to connect to the market again, because it looks like we’ll have good opportunities this week, we don’t have too many fundamental announcements, etc. So good luck!

Now, we got to pay attention to the AUDCAD, it is trading in a very clear condition on both, the short term and long term charts. On the long term charts, I like the way it reacts to the most recent support and resistance levels:

Since it was rejected from an important support level, it is likely to continue its way up until it reaches the next LT resistance level. On the short term charts, it is trading above every important level:

As long as the AUDCAD stays trading above HOPS1, I’ll be looking for long opportunities.

Trade Safe!

Raul Lopez
Forex Course

AUDCAD analysis, forex

Look at the clear market condition of the AUDCAD

On my previous post I talked about what I like to see on the LT charts before I start looking for trade opportunities: the market bouncing off clear S&R levels. I got the perfect chart that explains this accurately, AUDCAD daily chart:

How would you trade something like this?

Its simple, once the market gets rejected from the support level, look for long opportunities until it reaches the next resistance level, on the other hand, once it get rejected from the resistance level, look for short opportunities until it reaches the next LT support level.

Easy enough?

Trade Safe!

Raul Lopez
Forex Course

AUDCAD analysis, forex

AUDCAD – Waiting for the range breakout

I like the way the AUDCAD has been trading in the last few months, smoothly from one LT level to the other, making it easy to trade. Right now I see it trading pretty close to the LT support level and this is how it looks on the short term charts:

I’m currently waiting for the AUDCAD to break the short term range (green levels), then I’ll start looking for trade opportunities on the direction of the breakout.

Trade Safe!

Raul Lopez
Forex Training

AUDCAD analysis, forex

Let’s see what I’m made of – Long AUDCAD

This week I have tried to go long on the AUDCAD two times (this will be the third one), on one of them I got stopped out at my initial SL, and on the second one got stopped out when I moved my SL to secure profits. So this one would be the third, do you also think the third one is the right one? I do…

Here is my signal (still pending order):

Entry: 1.0283 + spread
SL: 1.0241
TP: 1.0506

If I see a close below the lowest low that trigger my signal I will cancell this order.

We shall see what happens, if it doesn’t work though, I’ll click that little cross on the upper right corner of the chart and see what happens.

Trade Safe!

Raul Lopez
Forex Course
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AUDCAD analysis

Are you looking for long opportunities on the AUDCAD?

Good… because me too. I like the way it is trading on the long term charts, being rejected consistently from the same S&R levels. Earlier today the rejection from the bottom of the range was confirmed; it triggered a bullish market condition, therefore I’ll be looking for long opportunities on the AUDCAD:

As long as the AUDCAD trades above 1.0215 I’ll keep looking for long opportunities. If I take a long trade I’ll set my take profit order below the next LT resistance level of 1.0536

All short opportunities will be ignored.

Trade Safe!

Raul Lopez
Forex Course

AUDCAD analysis