ADAUSD
ADAUSDT SHORT
Hi everyone, wasn't trading for a week, since being patient for the setup is very important.
There are a couple of entries in intraday, like what a happened during March 23, 2020 where price starts to broke out.
But not trusting this "BULL RUN" instead following the larger bias(MACRO LEVEL) of the trend which is bearish.
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Reasons for shorting
Fib: Price is already at 50% retracement from larget timeframe
Price: Now near resistance of 0.04600- 0.04700
RSI: Showing signs of rejection *BEARISH DIVERGENCE*
Conclusion:
If this materializes expect another support at $0.04200 - $0.04100
else if buyers aren't exhausted yet, expect another attempt to reach $0.05100 - $0.05200
If you like my work, leave a like . Thank you!
#tradeResponsibly
Hi everyone, wasn't trading for a week, since being patient for the setup is very important.
There are a couple of entries in intraday, like what a happened during March 23, 2020 where price starts to broke out.
But not trusting this "BULL RUN" instead following the larger bias(MACRO LEVEL) of the trend which is bearish.
----------------------------------------
Reasons for shorting
Fib: Price is already at 50% retracement from larget timeframe
Price: Now near resistance of 0.04600- 0.04700
RSI: Showing signs of rejection *BEARISH DIVERGENCE*
Conclusion:
If this materializes expect another support at $0.04200 - $0.04100
else if buyers aren't exhausted yet, expect another attempt to reach $0.05100 - $0.05200
If you like my work, leave a like . Thank you!
#tradeResponsibly
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