ADAUSD is completing the harmonic pattern on the daily time frame. It even completed the trail after that is typical of the calm before the storm.
Keep your eyes on this for the first week of Feb.
I'm seeing resistance around 0.50, fib confirms it, and previous ATH confirm it as well. It was the last support from the previous ATH, so I'm gonna watch and see how it treats that area.
Read my XLMUSD chart to understand the sharp rises and where to place your longs after the rise up.
Keep your eyes on this for the first week of Feb.
I'm seeing resistance around 0.50, fib confirms it, and previous ATH confirm it as well. It was the last support from the previous ATH, so I'm gonna watch and see how it treats that area.
Read my XLMUSD chart to understand the sharp rises and where to place your longs after the rise up.
Note
Expect general trend upwards for a month now. If I get a chance, I will open a buy around 0.32 - 0.33Note
I would expect prices to go up to 0.49 soon, and then see an important healthy retest of the 0.40 - 0.44 levels. Always look for gaps in the time frames where it hasn't spent much time trading recently, so those are your potential retest areas, sometimes these areas are completely ignored, but sometimes it goes down to see how it handles the bulls pushing it up. This is easy to work out if you place your Fibb retracement levels on the recent highs and recent lows, you will notice the closing prices yourself and see the trend on where it will retest.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.