ADA/M20 (ADA/BTC) Ichimoku 4H Follow up on Short play
As I said in my previous linked idea it looked like ADA was looking for a retraction and it is now playing out by breaking down into the cloud!
It still needs to validate as marked on the chart with the lagging span ( Purple line ) breaking the Kijun ( Dark Blue line ) to have a better probability.
And to expand on the idea, I set a couple take profit targets with the first at the previous retracement level, the second the bottom of the cloud, the third the last historic cloud support and if that also doesn't hold I don't see why it wouldn't go all the way to test the 200 EMA at take profit 4.
As the M20 is leveraged trading this could be a good setup, but be careful.
If you like my ideas and the work I do check out the links in the signature ;)
It still needs to validate as marked on the chart with the lagging span ( Purple line ) breaking the Kijun ( Dark Blue line ) to have a better probability.
And to expand on the idea, I set a couple take profit targets with the first at the previous retracement level, the second the bottom of the cloud, the third the last historic cloud support and if that also doesn't hold I don't see why it wouldn't go all the way to test the 200 EMA at take profit 4.
As the M20 is leveraged trading this could be a good setup, but be careful.
If you like my ideas and the work I do check out the links in the signature ;)
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