Structurebreak
ADAUSDT Break + Retest 50Ma SHORT PHi everyone
Daily"
Going short ADAUSDT
RSI still has a long way to get down to over sold area, had confirmation from red DOJI and second long Red candle. + Price fail to cross up 50 MA
ALWAYS look for extra confirmation on any trade, Anything like a bullish/ bearish candle such as the one we can see here "Red Doji'
Possible drop to $1 If bears stay strong, then look for rebound up to retest $1.50 Area " I would personally hold on any long positions until we ether confirm a new strong new trend or buy at $1.5 area"
Happy trading people
(No financial advice)
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USDJPY Potential break of structure to downsideI normally don't trade UJ but just screening my watchlist and saw this structure being created for potential countertrend shorts.
Based on the previous structure break, that could bring it down nearly 80 pips.
JPY is strong today and USD is losing strength. And I am expecting USD to continue bearish today.
COT data shows an increase of shorts and decrease of longs.
Let me know your thoughts.
Trade Safe!
HEET
ps. I generally post alot of updates as the idea/trade evolves. If you wanted to stay updated, please click the "Follow this idea" button.
pss. As I don't normally trade UJ, very unlikely I enter a trade for this pair. Although I could change my mind if it breaks below 105.4.