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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:
Check my other stuff in related ideas.
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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:
a
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.