ADA Long back to +42c
Updated
We should've been in earlier and don't really like the weakness present at this breakout attempt. So much caution and small positions.
Having said this, we like the perfect backtest of 33c after a shift in momentum with the higher lows, now we can use the 33c as an invalidation point to our argument and change in trend.
We played this trade to the downside and waited for a long time to a structure like this to develop. Even if the SL hits we will be very focused for the next few weeks as the bottom does appear to be in and many opportunities could arise.
Having said this, we like the perfect backtest of 33c after a shift in momentum with the higher lows, now we can use the 33c as an invalidation point to our argument and change in trend.
We played this trade to the downside and waited for a long time to a structure like this to develop. Even if the SL hits we will be very focused for the next few weeks as the bottom does appear to be in and many opportunities could arise.
Note
First TP just missed but when you have that sort of PA close to your profit level you should always take some off. In any case a higher low is in and the structure is still bullish. Note
Argument is even stronger now. We've increased our position and removed the automatic order for the first TP. We will watch the level as if we truly continue up we should go past it pretty easily.Trade closed: target reached
Absolutely smashed it and taken last profits above TP3 at 60c
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