Short idea for ADA - descending channel (1D/1H)
Updated
I would like to share this short idea for ADA. It's moving in a tdescending channel, so now there is a high probability that the price will go down, as it bounced back from the resistance. The RSI and MACD indicators are also confirming the predicted move.
Trend: downtrend (20 EMA < 50 EMA < 200 EMA on the dailychart)
Nice and easy trading opportunity.
Entry level: if price goes below 1.394
SL/TP levels are shown on the Short position drawing.
Good luck!
Trend: downtrend (20 EMA < 50 EMA < 200 EMA on the dailychart)
Nice and easy trading opportunity.
Entry level: if price goes below 1.394
SL/TP levels are shown on the Short position drawing.
Good luck!
Trade closed: stop reached
-2.39%Lesson learned: I should put the entry level at 1.38 according to the previous 2:00 PM red candle.
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Thank you for your support and may the markets be with you!
Thank you for your support and may the markets be with you!
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