ADA another -35%? 😱

Please 1st of all click the boost🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.

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)...

...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.

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

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!

Note

Check the follow up idea here:

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