How To Trade AUDCAD

The monthly timeframe… It's not, perhaps, something that everyone wants to be involved with, but in this instance, when it comes to knowing how to trade AUDCAD, it can be a useful tool indeed. After all, if there is decent profit potential around a trade, isn't it always a good idea to go for it, even if the timeframe isn't what you wanted or expected? We think it might be. Trading is about gaining a return on your investment, and good profits are the way to do just that.

Table of Contents

Best Award Winning Brokers

Show Search Filters
  • The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.

    At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.

    “the platform offers some impressive features but withdrawing money can be difficult.”

    Robert Firmin
    76% of retail investor accounts lose money when trading CFDs with this provider.
  • OANDA is a global financial services company providing advanced currency solutions to both retail and corporate clients all over the world. In this article, we are going to review this broker’s trading options, tools, platforms, spreads, commissions, security measures, and educational resources to help traders make the right choice.

    76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing
  • AvaTrade offers a wide variety of trading solutions (spread trading, CFDs, and social trading), and peace of mind with its comprehensive regulation, covering the EU, Australia, Canada and South Africa. Clients can use a variety of platforms for discretionary and automated trading.

    76% of retail investor accounts lose money when trading CFDs with this provider.

The Monthly Timeframe Is Boring

We hear that a lot - waiting around for the monthly timeframe is boring. But it's only boring if that's the only thing you're doing, and if you're watching it every day. The key to enjoying the monthly timeframe, especially when it comes to how to trade AUDCAD, is to leave it in the background doing its thing. You can make other trades on the weekly or even daily timeframe and leave your monthly ticking along nicely.

Looking More Closely

So take a look at the trade we have here with the AUDCAD on the monthly. You can see three higher lows which seem to suggest that something interesting is on its way for a start.









After that things seem to be accelerating upwards on the monthly timeframe, showing that when it comes to how to trade AUSCAD patience can certainly be a virtue. Checking the weekly timeframe confirms all of this, and it's always wise to check if you can - don't be tempted to jump ship though, unless things really do take a turn. You might miss out on something pretty exciting (even if you think monthly timeframes are boring).

Using Other Timeframes

Remember this tip - when you're trading on a daily timeframe, check the 60 minute timeframes for confirmation. When trading on the weeklies, check the four hourlies. And when trading on the monthly timeframe, check the weeklies. You're looking for bullish reversals, easy to spot and handy indeed when it comes to trading positivity. These small snippets of information and confirmation can help you along in discovering how to trade AUSCAD and plenty of other forex trades too.

How To Trade AUDCAD Aggressively

Because this particular trade is on such a long timeframe, it's important to be more aggressive when and where we enter this from. Placing an entry just above December's high is the best place to begin.









The stop loss needs to go just below the low of January. That increases the profit potential, and since we're risking two percent on this particular AUDCAD trade, that gives us a profit potential of 5.2 percent. It's easy to see now why the monthly timeframe is a factor in deciding how to trade AUDCAD.

You May Also Like…