ADAUSDT Faced this line again!/Trading Strategy
Updated
ADAUSDTNotice in chart---Red: rise; Green: fall.
4H trend chart
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Price is converging in a triangle and built double bottom in previous.
However, it didn't get surge while other crypto spiked.
Due to the longest downtrend hasn't been broken, and 144,169ema(Vegas tunnel), neither.
So just give it time to get trade off with space.
If Downtrend line is broken out, trading strategy as below.
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Profit Targets:
a) 3.1040----Fib(1)
b) 3.5669~3.7541-----Fib(1.272~1.382)
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Be aware of the resistance zone around 2.4539, formed from previous accumulated volume.
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Trading is a reflection of yourself, sometimes you need to take a step back to see more.
Learn more daily and Be ready for any opportunities daily.
Have a nice trading day guys!
Note
Hey guys, price has broken out the downtrend line, and I modify the targets into short-term profit targets, and the stop loss is 2.191, so our risk-reward ratio is around 1.4
Wish you have a nice trading!
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