ADA update - time to buy
Updated
Not financial advice, just my own thoughts and recorded history on what I am seeing so I can look back on it in the future ...
I am a buyer here as its at the lower end of what I identified as the "chop zone" ... meaning, if you try to trade too high up in the chop box, you will get chopped up, financially and emotionally ... stay out of the chop zone ... lol
Just re-entered long here with a stop loss under the dump wick ...
As I study the chart, I am taking a more conservative approach ... I am looking for a move up to the gold circle retracement levels ... I believe this is a make or break for the price over the next 2-4 months.
I plan on exiting all holdings if/when prices get up there. Then a wait and see ... a break above the all time high and then retest back the gold circle would be a good entry to hold for longer term.
If it rejects hard from the gold circle, that would scare me enough to get out and to the sidelines. I think the subsequent dump will take us down to the 75 cent area. Or if it continues to dump here and get stopped out. then 75 cents still looks attractive ... will have to see price action at that point.
I am a buyer here as its at the lower end of what I identified as the "chop zone" ... meaning, if you try to trade too high up in the chop box, you will get chopped up, financially and emotionally ... stay out of the chop zone ... lol
Just re-entered long here with a stop loss under the dump wick ...
As I study the chart, I am taking a more conservative approach ... I am looking for a move up to the gold circle retracement levels ... I believe this is a make or break for the price over the next 2-4 months.
I plan on exiting all holdings if/when prices get up there. Then a wait and see ... a break above the all time high and then retest back the gold circle would be a good entry to hold for longer term.
If it rejects hard from the gold circle, that would scare me enough to get out and to the sidelines. I think the subsequent dump will take us down to the 75 cent area. Or if it continues to dump here and get stopped out. then 75 cents still looks attractive ... will have to see price action at that point.
Note
bounce may have started ... more comfortable and legitimate if it can reach a local higher high Note
New local high made ... needs to hold here and push up ... can deal with a little more retrace but not much .... next stop is 1.50Note
Here we go .... attempt to breakout of downtrend line ... needs to break, test, hold
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