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AUD/CAD Elliott Wave Analysis.

Daytrader21 Posted 18 Oct. as Analysis on AUD/CAD, Target: 0.9336, Date: 1st of December, 12:00 GMT  in #Technical analysis #AUD/CAD #Consolidation #Elliott Wave #Zig Zag Pattern
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower prices in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
…
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Daytrader21 25 Oct.

Update 1: We're still below the big psychological number 0.9500 as we weren't able to have a weekly close above this level suggesting the bears may still be in control. For coming week that level should provide resistance and to the downside the first level of support comes at 0.9400 where price can see a pause before going further down

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Daytrader21 2 Nov.

Update 2: After another retest of the 0.9500 resistance level we finally got a strong reaction and sold off again retesting the 0.9300 support level. We can't rule out a retest of the 50% fib retracement from the 0.9580 highs before to continue lower again.

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Daytrader21 9 Nov.

Update 3: It seems that the market has established a new range zone. This range zone is much more narrowed between 0.9300 support level and 0.9445 resistance level. Until we can get a break and a daily close above either of this two levels we're stuck inside this range and there is no clear direction.

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Daytrader21 15 Nov.

Update 4: We broke above the 0.9445 pivot point and resistance level but the big round number and psychological figure 0.9500 has been proving a much more better resistance level as we weren't able to post a weekly close above that level. For the coming week we should see 0.9500 act as resistance and we should see a retest of 0.9400 and lower.

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AUD/CAD Elliott Wave Count

Daytrader21 Posted 15 Aug. as Analysis on AUD/CAD, Target: 0.9344, Date: 1st of October, 12:00 GMT  in #Technical analysis #AUD/CAD #Elliot Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 30 Sep.

Update 5: Right now we have retested the resistance level at 0.9380 but we have gone up until the round number 0.9400 and beyond, however if we can't get a daily close above this level we can turn back and retest support level at 0.9320.

WallStreet6 avatar
WallStreet6 30 Sep.

Great forecast! One day to go and less than 100 pips away. It can still get closer! Too bad the Aussie came back above 0.70. I was also anticipating further depreciation of the Aussie.

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Daytrader21 30 Sep.

Update 6: As expected we close below the round number 0.9400 as well as below key resistance level 0.9380. Currently we're trading only 16 pips away from my target and tomorrow trading range looks straight forward as we have resistance at 0.9380 which I'm expect to be retested and from there to be heading down towards support level of 0.9320. My forecast price is right in the middle at 0.9344

WallStreet6 avatar
WallStreet6 30 Sep.

This is really close to your target. You should make a nice win with this one. Good Luck!

Joe_Vulcan avatar
Joe_Vulcan 15 Oct.

Elliot waves are the most accurate forecast tools. Can't live without them.

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AUD/CAD Elliott Wave Analysis

Daytrader21 Posted 30 June as Analysis on AUD/CAD, Target: 0.9520, Date: 3rd of August, 12:00 GMT  in #Technical analysis #AUD/CAD #Elliott Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 15 July

Update 2: This morning we have just touched our target at 0.9520. However this may be just a false breakout  as we're still moving inside a range zone between 0.8400 support zone and 0.8500 big figure and resistance zone

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Daytrader21 19 July

Update 3: This pair has found resistance at 0.9620 but the fact that we couldn't break and close below the big round number 0.9500 it can suggest that we can see another retest of current high at around the 0.9600 level before to resume down and heading back towards our target at 0.9520

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Daytrader21 26 July

Update 4: We're still trapped inside a wide range between 0.9400 support level and 0.9630 resistance level. Last week sell of stopped right at big round number 0.9500 and we couldn't break below it, this means we should see another attempt to retest previous high at 0.9600 before moving down again.

WallStreet6 avatar
WallStreet6 1 Aug.

great use of Elliot's waves and Fibonacci- my fav instruments!

Mariia avatar
Mariia 2 Aug.

good analysis Daytrader21

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AUD/CAD Short Trade Explained

Daytrader21 Posted 18 June  in #Trader's blog #AUD/CAD #Fomc
This was my second attempt shorting AUD/CAD, if the first trade ended up at BE which was still a good play taking in consideration that I was able to protect myself and minimize any losses. You can find more about my first short here: AUD/CAD Short Position Explained
On my second trade that I'm going to explain it here even though my timing wasn't perfect I still managed to get +54 pips profits out of this trade. The premise on this trade was again based on the fact that the higher time frame bi…
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AUD/CAD - Short Position Explained

Daytrader21 Posted 2 June  in #Trader's blog #AUD/CAD #Aussie #Rba #Interest Rates #Fundamental Analysis Contest
My first trade for this month was shorting AUD/CAD which in the end ended up to be a break-even trade. I didn't even realized I'm trading an aussie crosses because I was expecting AUD/USD to react positively on the RBA rate decision and thus all the other crosses will react, more or less, AUD positively. But since I overlooked this thing I entered short on AUD/CAD based on a small retest of an old support now turning resistance (see Figure 1).
Figure 1. AUD/CAD 1h Chart

My forecas…
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AUD/CAD New Trend in the Making

Daytrader21 Posted 30 May as Analysis on AUD/CAD, Target: 0.9245, Date: 1st of July, 12:00 GMT  in #Technical analysis #AUD/CAD #Audcad #Elliott Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 14 June

Update 1: We have yet to break below they key support level and previous swing low at 0.9400. However because this level has been retested for so many times it has been weakening and it should soon start to give up. First we need a break below key big figure 0.9500 before to see the downside momentum to build up

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Daytrader21 19 June

Update 2: We have still not brake below 0.9400 major support level. However the upside seems caped at 0.9550. We should see more downside next week and another attempt to break the key support.

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Daytrader21 26 June

Update 3: The market was still unabled to break below key resistance level of 0.9400 despite multiple attempts to break below. However Friday's daily candle looks very promising that a breakout could happen as soon as Monday

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AUD/CAD Range Box Effect

Daytrader21 Posted 15 Mar. as Analysis on AUD/CAD, Target: 0.9713, Date: 1st of May, 12:00 GMT  in #Technical analysis #AUD/CAD #Consolidation #Elliott Wave #Range #Boxes
AUD/CAD is one of those currency pairs which are moving in prolonged consolidation and range bound zones. Right now we have established another range between 1.0350 resistance zone and 0.9400 support zone. It is very common to use the middle of previous range box as resistance/support. We can see in our case how 1.0350 was the middle of previous box and now it's acting as resistance level for the current box.
Figure 1. AUD/CAD Weekly Chart

In Figure 2 we can have a look at the daily cha…
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Angelwales 18 Apr.

looks great nice ....

Daytrader21 avatar
Daytrader21 25 Apr.

Update 5: AUD/CAD support level at 0.9400 is holding up quite well and it seems there is a lot of accumulation around this level going on in the markets. We should expect a break higher above 0.9600 current resistance of this consolidation zone and after that level gives up the next resistance level is 0.7300 around our target

Metal_Mind avatar
Metal_Mind 26 Apr.

good luck

Mani avatar
Mani 26 Apr.

good luck

Daytrader21 avatar
Daytrader21 28 Apr.

Update 6: As per my previous update the market indeed broke above current box, which was a zone of accumulation by the smart money, between 0.9400 support level and 0.9570 resistance level. As soon as we broke above this range zone the momentum has pushed up quite strong without even looking back, confirming us that this is a genuine breakout. If we project this range zone to the upside we get at least a target of 0.9740 which is near previous swing high (see figure attached)

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AUD/CAD Retesting Big Resistance

Daytrader21 Posted 15 Jan. as Analysis on AUD/CAD, Target: 0.9482, Date: 2nd of March, 12:00 GMT  in #Technical analysis #Support #Resistance #AUD/CAD #Pivot Point #Range #Trading Boxes #Down Channel
AUD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can tell that over the year this range boxes have narrowed and the market it's moving clearly between support and resistance.
Right now the market is at an very important inflection point which is the 0.9800 level, which is a pivot point. this level has provided in the past good opportunities and it has acted both as support…
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Daytrader21 24 Jan.

Update 1. Last week upside spike was a "throw over" pattern which based on Elliott Wave it signaling a reversal in price. Based on our charts the spike towards big round number 1.000 was a throw over, a false breakout above down channel. It's a also a "V" shape top and if we take in consideration we're in a downtrend we should expect the trend to resume

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Daytrader21 14 Feb.

Update 2: As per my previous update price has confirmed that we had a false breakout as we're now back within the channel range. Also it appears that based on Elliott Wave we're forming a flat formation in which case we should expect to see a retest of previous low at 0.9400 whihc is also around my forecast level.

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AUD/CAD Range Box Effect

Daytrader21 Posted 16 Nov. as Analysis on AUD/CAD, Target: 0.9520, Date: 2nd of January, 12:00 GMT  in #Technical analysis #AUD/CAD #Consolidation #Elliott Wave #Range #Cycle
AUD/CAD is one of those currency pairs which are moving in prolonged consolidation and range bound zones. Right now we have established another range between 1.0350 resistance zone and 0.9200 support zone. It is very common to use the middle of previous range box as resistance/support. We can see in our case how 1.0350 was the middle of previous box and now it's acting as resistance level for the current box.
Figure 1. AUD/CAD Weekly Chart
In Figure 2 we can have a look at the daily chart an…
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Daytrader21 8 Dec.

Update 3: We have already hit our target but because we managed to break below the big round number 0.9500 we should expect more consolidation near this level in coming weeks. Expecting the market to stay in a narrow range between 0.8600-0.8500

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Daytrader21 22 Dec.

Update 4: Because we're approaching the holiday season and with the low liquidity during this time of the year we should expect a lot of range bound action. In this regard previous swing low 0.8400 level should provide good support and as resistance we should have 0.8580 for the next couple of weeks

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Daytrader21 27 Dec.

Update 5. The last big swing level is 0.9400 and we didn't managed to break below that level keeping the bull side in control in the short term. During this time of the year with low liquidity and low volume we can expect the market to stay in tight ranging zone and in this regard I don 't think the market is just ready to break below 0.9400 and we may see another attempt to push up towards 0.9500 big round number and ultimately getting closer to my target of 0.9520

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Daytrader21 31 Dec.

Update 6: As expected due to low liquidity environment we have been moving in tight congestion zones but we managed to break above the big round number 0.9500. Usually even in the first trading session of the new year the market activity is still dull so I'm expecting the market to stay in this tight congestion between 0.9500-0.9535

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Daytrader21 2 Jan.

Update 7: As I'm writing this update we're only 30 pips away from our target but the market seems ready anytime to break the big round number 0.8500 and I'm hopping we're going to get even closer to my target. Since I've posted my forecast the market has made 5 wave of smaller degree, to the downside completing a full wave cycle from 1.0350 highs (see Figure)

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AUD/CAD Summer Trading Conditions

Daytrader21 Posted 16 July  in #Trader's blog #Volatility #AUD/CAD #Elliot Wave #Correction #Summer Trading
Today I want to share a trade pattern idea that I've posted few weeks ago in the Technical Analysis Contest, you can check out that prediction here as well: AUD/CAD Summer Trading Conditions
Since beginning of the year AUD/CAD has been trading in a very consistent and clear way to the upside, without much correction along the way. I suspect this trend will enter in a prolonged pause as we're facingsummer trading condition where volatility dry out and the market is characterized by …
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VictoriaVika 18 July

well done. Great work

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