AUDCAD - 1H Chart Using Smart Money ConceptsAustralian Dollar vs Canadian DollarVANTAGE:AUDCADfamousone_chnThis trading plan follows the Smart Money Concept (SMC) methodology, emphasizing institutional price behavior to anticipate potential market moves. Market Context: The price recently experienced a strong bearish move from a Higher Time Frame (HTF) Supply Zone around 0.8960, leading to a sharp decline. The current price is at a potential support area near a previous Order Block located around 0.8940. Major Zones: LTF Supply Zone (0.8960 region): This is a significant resistance area where institutional sellers previously entered, causing the strong downward move. A retest of this zone could provide a high-probability short setup if price rallies back here. LTF Demand Zone (around 0.8914): This is a strong support area indicated by the chart that may act as a buyer accumulation zone. Price Action & Structure: The chart shows key Smart Money Concept structures including: Order Blocks (OB): Areas where institutions likely placed orders before strong price moves. Break of Structure (BOS): Recent bearish structure break confirms a shift in momentum downward. Trading Bias and Plan: The plan considers a bearish continuation bias after a potential retracement. Traders should watch for price to retrace up towards the LTF Supply Zone (the identified resistance zone) before entering short positions. This retracement offers an opportunity to enter with better risk to reward near institutional selling areas. Confirmation signals like rejection candles or liquidity tests at the supply zone enhance the setup validity. If the supply zone fails to hold and price breaks higher, the scenario invalidates and traders should reassess. Targets and Risk Management: Initial targets can be set near the LTF Demand Zone and further below near strong lows identified on the chart. Protective stop losses should be placed above the supply zone or above recent swing highs to minimize risk from false breakouts.