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Cardanosell

ADA → Cardano Failed to Break Resistance Zone. About to Fall!?Cardano had a failed breakout above the Resistance Zone at $0.62, followed by several failed attempts to break it again. Does this mean we enter a long? How do we trade this? 🤔 Entering a short right now is reasonable if you accept the low probability nature of reversal trading. The number of failures to break the resistance zone are great signals to enter a trade, but additional confirmation to the downside with a strong bear candle is preferable. Due to the current distance to the proper stop loss placement above the Resistance Zone, it's reasonable to take a 1:1 Risk/Reward Ratio trade down to the support zone. Use a smaller position size given the additional risk. 💡 Trade Ideas 💡 Short Entry: $0.575 🟥 Stop Loss: $0.665 ✅ Take Profit: $0.485 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Failed Breakout at Resistance Zone, Sell Signal. 2. Failed three times to break Resistance Zone after Signal, Confirmation. 3. Gap to Daily 30EMA and Support Zone. 4. RSI at 60.00, Below Moving Average. Bias to Short. 5. Watch for Bitcoin Trend Change at $46,000. 💰 Trading Tip 💰 Price seeks balance and will naturally move toward moving averages. Trade with the trend for maximum probability, but also expect gaps between the price and moving averages to close before they widen. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
KRAKEN:ADAUSDShort
by TraderEngineering
ADA → Cardano Racing Toward Resistance! Will We Reverse!?Cardano is racing toward the Resistance Zone after a successful break to the upside from last week's bull flag, as predicted in our last analysis. We're getting closer to resistance and the big question is, do we short it? How do we trade this? 🤔 If you're still in a long from bull flag breakout, good! Don't exit yet as we have not seen a reversal signal. ADA likely will make it to $0.45, I would take profits around that price area. Once we hit the resistance zone it's reasonable to expect a pullback or even a reversal. If we get a bear signal bar followed by a confirmation bar closing on or near its low, it's reasonable to short. We are in a bullish macro trend, so a short would be playing the reversal where Probability is low, but Risk/Reward is over 1:2. I would take half profits at 1:1 around $0.422, move the stop loss up to your entry price and swing the rest until we see the reversal bar to the upside. 💡 Trade Idea 💡 Short Entry: $0.446 🟥 Stop Loss: $0.468 ✅ Take Profit #1: $0.422 ✅ Take Profit #2: $0.403 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Breakout of 200EMA Followed by Bull Run. 2. Bull Flag Continuation Pattern Playing Out. 3. Resistance Zone Approaching, Look for Sell Signal. 4. Do Not Short Until Sell Signal and Bear Confirmation Candle Close. 5. RSI at 65.00, Above Moving Average. More Up Before Down. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
KRAKEN:ADAUSDShort
by TraderEngineering
19
SHORT-TERM CARDANO ANALYSIS SEEMS BEARISHGreeting from IRAN to whole trading community 💙✔ As i mentioned in my previous posts , Cardano has 2 major support resistance zone (1.35$ & 1.15$) Cardano managed to breakout 1.15$ resistance level and has reached to its next level Cardano has touched its next level (1.35$) with a beautiful pinbar candle which got engulfed with a strong full-body candle In conclusion Cardano needs to drop to its previous level (1.15$) then it can start its next move KEEP IT SIMPLE :)
Short
by nima-mohammadkhani
13