ADA another -35%? 😱

Updated
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This looks ugly. Cardano broke down this triangle📐 and I think there is chance for run to 0.2650 (meaning -35% drop from current price) and even lower. I'm already short from 0.4638 (see the idea below)...
ADA Head & Shoulders

...but setting SELL LIMIT order to previous range low to add another short position on the potential pullback.
  • ENTRY: local low @ 0.4313
  • STOPLOSS (SL): local high @ 0.4825
  • TARGET (TP): height of the triangle projected from midpoint of the local range (SELL LIMIT - STOPLOSS) @ 0.2650
  • REWARD RISK RATIO (RRR): 3.25
  • INVALIDATION: when SL level hit


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.
Trade active
SELL LIMIT Order filled ✔️
Trade closed: target reached
Here we go, Target hit! 🎯 Took it's time but the trade had almost no drawdown and it was 99% of the time in profit. Perfect!
snapshot
Note
Check the follow up idea here:
ADA more pain to come
ADAADABTCADABUSDADAETHadausdADAUSDCADAUSDTcardanoChart PatternscryptoTrend Analysis

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