ADA Head & Shoulders
Updated
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Cardano broke the yellow uptrendline1, backtested it twice and got hammered🔨. During this plunge it broke the uptrendline2 plus neckline (0.4536) of the Head and Shoulders all in one go. I think there is chance for drop to 0.3835 and even lower, but I expect some pullback up first. Setting SELL LIMIT order to catch the retracement somewhere into the area of uptrendline2 & downtrendline confluence (0.4638).
See Head and Shoulders pattern on BTCUSD:
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Cardano broke the yellow uptrendline1, backtested it twice and got hammered🔨. During this plunge it broke the uptrendline2 plus neckline (0.4536) of the Head and Shoulders all in one go. I think there is chance for drop to 0.3835 and even lower, but I expect some pullback up first. Setting SELL LIMIT order to catch the retracement somewhere into the area of uptrendline2 & downtrendline confluence (0.4638).
- ENTRY: trendlines confluence @ 0.4638
- STOPLOSS (SL): Right Shoulder @ 0.4905
- TARGET (TP): H&S target projection @ 0.3835
- REWARD RISK RATIO (RRR): 2.9
- INVALIDATION: when SL level hit
See Head and Shoulders pattern on BTCUSD:
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
Order filled ✔️Trade closed: target reached
Target hit! 🎯Note
We are not done yet. More pain for ADA to come imo. Check the recent setup down below:
Note
Just for the record:
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