CardanoShort
ADAUSD
The bear trends continues after some days of bullish move.
On the 3hours time frame, price has been spotted forming a bearish pattern chart pattern with tight flag price formation. When trading the pennant flag pattern(bullish or bearish), A tight pennant performs better than a loose one.
The flag looks more like a short symmetrical triangle and volume profile trend downward 89% of the time.
It is advisable that traders should always wait for a possible breakout and price should close outside the pattern before taking a position.
VERDICT:
SELL/SHORT: $0.043857
BUY: $0.039630 down to $0.035476
STOP LOSS: $0.046445
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
On the 3hours time frame, price has been spotted forming a bearish pattern chart pattern with tight flag price formation. When trading the pennant flag pattern(bullish or bearish), A tight pennant performs better than a loose one.
The flag looks more like a short symmetrical triangle and volume profile trend downward 89% of the time.
It is advisable that traders should always wait for a possible breakout and price should close outside the pattern before taking a position.
VERDICT:
SELL/SHORT: $0.043857
BUY: $0.039630 down to $0.035476
STOP LOSS: $0.046445
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Disclaimer
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