AUDCAD – Potential Long Setup
HELLO I’m currently monitoring AUDCAD for a potential long opportunity based on a multi-timeframe approach.
On the H1 timeframe, price has broken above a descending trendline, indicating a possible shift in market structure toward bullish momentum.
My plan is to wait for a pullback into a key Area of Interest (AOI) around 0.96473. This zone aligns with the previous structure and could act as support.
For confirmation, I will drop down to the M5 timeframe and look for a clear retest pattern (such as a rejection candle, bullish engulfing, or structure break) to validate entry. Entry Plan:
Buy on confirmation at the AOI (0.96473)
Wait for M5 price action confirmation before executing
AUDCAD – Potential Long Setup HELLO I’m currently monitoring AUDCAD for a potential long opportunity based on a multi-timeframe approach. On the H1 timeframe, price has broken above a descending trendline, indicating a possible shift in market structure toward bullish momentum. My plan is to wait for a pullback into a key Area of Interest (AOI) around 0.96473. This zone aligns with the previous structure and could act as support. For confirmation, I will drop down to the M5 timeframe and look for a clear retest pattern (such as a rejection candle,...
Ignored
hi. I also watched AUDCAD. I entered the trade after the TL breakdown, when the price came out of consolidation
{quote} hi. I also watched AUDCAD. I entered the trade after the TL breakdown, when the price came out of consolidation {image}
Ignored
nice one ididnt enter on AUDCAD because the market is whipsawing up and down acrossing the TL. It broke down, then it broke up, then it broke down but GJ on that
keep an eye on AUDUSD for tomorrow. i just got a clean breakout above the major red downtrendline and the 0.69520 resistance. Since it's late in the NY session, I'm staying out for now. I'll be watching during the London Open tomorrow. If price holds this break overnight and gives us a slow pullback (retest) or a Bull Flag, I’ll be looking for Buy entries
{quote} nice one ididnt enter on AUDCAD because the market is whipsawing up and down acrossing the TL. It broke down, then it broke up, then it broke down but GJ on that keep an eye on AUDUSD for tomorrow. i just got a clean breakout above the major red downtrendline and the 0.69520 resistance. Since it's late in the NY session, I'm staying out for now. I'll be watching during the London Open tomorrow. If price holds this break overnight and gives us a slow pullback (retest) or a Bull Flag, I’ll be looking for Buy entries {image}
Ignored
what timeframe do you use to log in? unfortunately, it does not appear in your picture. consider audusd purchases with caution, as the picture on the daily chart does not look favorable for purchases, besides, the price is at the resistance level.
{quote} what timeframe do you use to log in? unfortunately, it does not appear in your picture. consider audusd purchases with caution, as the picture on the daily chart does not look favorable for purchases, besides, the price is at the resistance level. {image}
Ignored
The chart in the picture is the H1 (1-Hour) timeframe I use H1 to draw my major structure and find the breakouts but to actually enter the trade, I drop down to the M5 (5-Minute) timeframe. I wait for the price to retest my H1 lines and look for a rejection candle (like a pin bar or engulfing) on the M5 to pull the trigger.
Trendline Break (The Only System You Need)
