Short

ADA Wyckoff Re-Distribution Trading Range

Updated

The ADA price has been in a downsloping Wyckoff re-distribution trading range from Sept 2, 2021 to the present. The upper and lower boundaries of this trading range are given by the horizontal black lines.

Wyckoff abbreviations: automatic reaction (ARe), buying climax (BC), failed upthrust (FUT), phase A (Ph A), phase B (Ph B), phase C (Ph C), secondary test (ST), shakeout (SO), sign of weakness (SOS), upthrust (UT).

Note

Based on an analysis of the Phoenix Ascending and Bad Ass Bollinger Bands in higher timeframes (1W, 3D, 2D, 1D), I have selected 2 ceiling targets ($0.901 and $0.846) and 2 floor targets ($0.722 and $0.675). I will open a short position at one of my ceiling targets and close the short position at one of my floor targets.

Let’s keep our eyes on this and act accordingly. I will post updates as appropriate.

This is not financial advice. I am not your financial advisor. This is my opinion.

Note

To be clear, the short position is to be opened on a falling red stochastic relative strength index (sRSI) not a rising red sRSI.

Trade active

Opened a short position at $0.903

Trade closed manually

Opened short: $0.903
Closed short: $0.862
Percent change: $4.54

Eightchains

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