ADA, still in a down-trendI don't have a long term idea for ADA right now but i can give you a short term one.
Here we have an expanding triangle which is forming well but haven't finished yet, we don't really expect it but it gives us a clear idea of what price might do.
as we, pitchfork traders, are always looking to trade with an active slope but many of you guys might have noticed trading with just one fork is throwing money in the trash and you may end up losing more than winning so instead of doing that, we are trying to find a valid fork
in here this triangle gives up 2 promising forks, the blue one is a simple one with A inside BC ( This kinds of forks have a higher probability of capturing the price ) and we have a green one which is a modified schiff fork.
in here we have a confluence point of 2 forks crossing + a very nice and clean horizental line crossing from A point of the triangle.
as the long term aspect , ADA hasn't broken a swing for use that we can surely say it changed it's behaviour so we are still short.
my idea is that we can go short with the down sloped fork to the median line. who knows maybe the blue fork breaks and the price goes to the swing and breaks it BUT ONLY THEN i will be looking to go long but not now.
Hope this helps you, ask me any question if you have any
Thanks for you time.
