CardanoLong
CARDANO Daily Chart Analysis (March 21, 2021)
Looking at the Daily Chart, you can see that CARDANO finished 4 waves up and currently forming its 5th wave. You know that we cannot determine the exact length of wave 5 as it can be equal to wave 1, 161.8% of wave 1, 200% of wave 1, or 261.8% of wave 1.
In our case here, using the Fibonacci Retracement tool, I expect to see wave 5=200% wave 1 and reach the 1.59333 critical area before starting its deep ABC correction to retest the previous wave 4 at the 1.00000 level, and then possibly go back up with a new impulsive wave. Keep in mind that trading is all about probabilities and that nothing is 100%.
In our case here, using the Fibonacci Retracement tool, I expect to see wave 5=200% wave 1 and reach the 1.59333 critical area before starting its deep ABC correction to retest the previous wave 4 at the 1.00000 level, and then possibly go back up with a new impulsive wave. Keep in mind that trading is all about probabilities and that nothing is 100%.
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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.
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.