ADA - possible SHORT from squeeze.
Updated
ADA has been in a squeeze for some time on the 4H chart and there's a possibility for a SHORT term profit if squeeze ends with an uptrend.
On the 4H chart you can see that MACD is starting to create a minor curve up, there's a slight increase in volume and RSI has been hovering around 48%-50%.
If the squeeze ends with a downtrend instead the price might move from 0.236% to the bottom support, a stop limit should be set below the lowest wick.
If squeeze results with an uptrend we can see some previous trade action going on just below 0.618%, this should be our optimal sell.
If all goes well a 20% profit is possible.
Stop limit should always be set in case the squeeze results in a downtrend and breaks the support!
On the 4H chart you can see that MACD is starting to create a minor curve up, there's a slight increase in volume and RSI has been hovering around 48%-50%.
If the squeeze ends with a downtrend instead the price might move from 0.236% to the bottom support, a stop limit should be set below the lowest wick.
If squeeze results with an uptrend we can see some previous trade action going on just below 0.618%, this should be our optimal sell.
If all goes well a 20% profit is possible.
Stop limit should always be set in case the squeeze results in a downtrend and breaks the support!
Trade closed: stop reached
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