ADABEARUSD trade ideas
ADAUSD | Wave Projection | Downtrend Double ZZ Channel BreakoutReady for long entry: Price action and chart pattern long entry trading setup
> Elliott Wave double ZZ combination correction WXY with EMA200 as key dynamic resistance for major B-wave and EMA50 as key resistance for minor 2-wave and 4-wave
> Downtrend channel sideway breakout - possible sideway continuation
> Long entry @ EMA50 breakout
> TP @ EMA200 for medium term trade
> SL @ the lowest position wave 5
> RRR: 3:1
Indicator:
MACD bullish divergence golden cross signal line merely below 0
Always trade with affordable risk and respect your stoploss
Trend in Trouble!Cardano falling below this trendline it's been using as force to push up, is possibly breaking, i like the trade to the short side!
Bearish IdeaDue to breaking of previous Higher Low, appearance of "Tweezer Top" candle at the peak. It is suggested that the trend will be bearish.
Cardano: still no strength for higher groundsSide trading continues for ADA. It seems like the market is looking for a certain end of the bearish market in order to push this coin to the higher grounds. On a positive side, the support line at $0.40 is holding strongly, while during the week, the coin managed to reach its highest level at $0.45. Daily trading volumes continue to be decreased, on a positive side, previous week buying orders were the dominant one on the market.
Relative Strength Index continues to reflect market`s side trading. During the week the indicator moved from 35 up to 45, still not indicating that the market is ready to head toward the overbought side. Moving averages continue to move as two parallel lines, without any indication that they might start with convergence toward each other in order to make a cross.
As daily trading volumes continue to be significantly decreased, it could not be expected that ADA will make some significant moves to any side, in which sense, side trading might continue for some time in the future. In this sense, it could be expected for the $0.40 support line to be tested one more time. On the opposite side, a move toward $0.5 resistance would require for ADA to make a break from the $0.45 resistance line.
Cardano's Path to $0.55 (21% Short-Term Target)We had some drawdowns with Cardano before but this is part of the game.
You can have a good trade do bad just as a bad trade can do good.
This is a good setup and the previous ones but the market can turn that's why we define our risk and use a stop-loss.
One can only lose a maximum of 100% on a trade.
The upside potential (the profits potential) is unlimited...
If we use a 10-20% stop, we improve the odds in our favor and that is what technical analysis is for...
For us to put the odds in our favor and be able to make better decisions as to when to sell, when to hold.
You can find the targets on the chart.
The black arrow is for illustations purposes only.
It rises, corrects in higher low and continues rising...
The last low is always the stop.
Spot trading is basically risk-free as we are bottomed out/near support.
Leverage is high risk but also high potential rewards.
Namaste.
ADA retesting bottom, trangle is tight!ADA has been retesting the same bottom at 0.45 for the last 3 months, and it has held every time.
ADA is one of the Alts with the strongest fundementals, with a large fork upcomming, and has been seeing strong accumulation.
I would put my money on a break up in the next week, assuming FED policy fits market expectations, but i would still accumulate more in spot for the near future.
It has often been somewhat out of sync with the BTC macro cycle, however it is not immune to its weight, as such in case of BTC break down the test could go lower.
If it does break up, and reach previous supports, we could claim trend reversal in play!
ADA Daily It's not done bleeding.How fast can it spike down.. hmm H1 is bearish right now, unless structure breaks i'm gravitating on that MMSM ultimately leading into that daily overall target.
ADA/USD - 1 day chart analysisHere is a closer look at this ADA/USD 1 day chart:
ADA is in a Ichimoku P Wave (the 2 converging Blue Trend-lines on Chart) on this daily timeframe. This P Wave is potentially Bearish because it is an inverted P. Note that the bottom trend-line of the P Wave is near the 38.20% ($0.430) Fib Retracement level.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term Momentum is upwards at the moment. Note that the Conversion Line (Tenkan Sen) is still under the Base Line (Kijun Sen)
The Ichimoku Cloud Base Line (Kijun Sen) is indication that the Mid-Point of the Mid-Term Momentum is sideways at the moment.
The Ichimoku Cloud Lagging Span (Chikou Span) is indication that Momentum is downwards at the moment. Note that the Lagging Span (Chikou Span) is still under the past price.
Note that ADA is still in the Bearish Zone of the Ichimoku Cloud.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for the 1 day timeframe. Note that the Upper and Lower Bands are Pinching inwards at the moment.
At the moment of typing this, ADA has dropped below its Least Squares Moving Average (LSMA). A daily candle close below the LSMA would be considered a Sell Signal for this indicator on this 1 day timeframe.
ADA is still well below its Longterm Upwards Pitchfork Pattern Median Line and is also below its Lower Yellow Pitchfork Resistance Line.
Looking at the entire ADA Chart we can see that the Volume Profile Visible Range Point of Control (VPVR POC) is at $0.041 and we can see the previous huge Volume Cluster from $0.096 to $0.033. This represents the area where the most volume was traded.
Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is dropping with the ADX (Orange Line) at 13.988 still below its 9 Period EMA (Black Line) which is at 15.181. Negative Momentum has dropped with the -DI (Red Line) at 19.976 and Positive Momentum has also dropped with the +DI (Green Line) at 17.218.
Looking at the Relative Strength Index (RSI) we can see that momentum is downwards at the moment. Note that the RSI (Purple Line) is below its 9 Period EMA (Orange Line) which is a sign of negative momentum strength. Note that the RSI still has plenty of room to drop before entering the Oversold Zone on this 1 day timeframe.
If ADA breaks below its P Wave and its 38.20% ($0.431) Fib Retracement level then we may see an eventual drop to its 50% ($0.233) Fib Retracement Level.
For the upside, we need ADA to stay above its LSMA and to eventually get back ABOVE and CLOSE a daily candle ABOVE its BB Middle Band with a successful re-test as support on this 1 day timeframe.
Looking at this ADA 1 day chart really puts things in perspective, as you can see, ADA spent from March 2018 to March 2019 in the BEARISH ZONE of the Ichimoku Cloud which was then followed by about a year or so of a few rises and falls until March 2020 when ADA rose from $0.017 to an eventual new ATH of $3.143 in Sept 2021. Once this world wide recession and financial/crypto bear market is over be it in a year, 2, 5 or 10 years, eventually the Market Makers will decided that the Path of Least Resistance to Profit is…… upwards! So you have to position yourself ready so you can take advantage of the next parabolic rise up, not just in crypto but also stocks, commodities and indices.
This is all my opinion so please do your own research because its you money.
I hope this is helpful with your trading and hodl-ing.
ADA USD Short Idea There are bearesh patterns on the ADA USD chart (1hour) like Tweezers top and Shooting Star. I think overall momentum is all bearesh.
ADAADA will follow btc most of the time and looks to be following bitcoin now with this small correction to the downside
ADAUSD needs to break the 1D MA50 in order to avoid 0.200.Cardano (ADAUSD) has had repetitive rejections (4 in total) on the 1D MA50 (blue trend-line) since May 31. In fact the last time we saw so many rejections within a long-term Channel Down, was during the previous Bear Cycle of 2018. The inability to sustain a break-out above the 1D MA50, led Cardano to the final hyper aggressive flush of November 2018 that ultimately formed the bottom of the Cycle.
Based on 1D RSI terms we also seem to be on the third (3) and final leg below the collapse, so if ADA holders want to avoid this, they need to see the price break above the 1D MA50 and sustain trading above it for a week at least. Otherwise the completion of a -93% drop from the top is possible at around 0.200.
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Cardano Daily Timeframe (Bad News vs Good Results Explained)Cardano (ADAUSD) broke our short-term support so we have to step back and look at the higher timeframes...
And we go to the daily (24 hours per candle).
Notice that the 18-June low remains intact, even with bad inflation numbers and bad news; This is a positive.
If you see very bad news yet the market fails to break its support, it works in favor of the bulls.
We have good volume today.
Still rising and above-average.
Would be really good to see a higher low at this point...
Any questions leave a comment below.
Namaste.
ADA/USD Possible Target Hello EveryOne !
As you can see , ADA (Cardano) is in downtrend , once a downtrend established it is more likly to continue than it is to reverse , because its takes less energy to continue than it does reverse one.
So I think point 2 (Current stage) has not enough energy to reverse the trend and it's a just correction like point 1 (due to volume ).
Why this correction occurs ?
In a primary downtrend short sellers succumb to the temptation to lock in their gains as the price sinks lower
note: Maybe price correction goes above the points I've mentioned , but reaching the target is more possible than new powerful uptrend .
#week04assignment #RafayBearish trend observed in ADA/USD chart. Entry taken as short selling position after seeing evening star.
Stoploss and target price set as per risk reward ratio of 01.
Cardano: Come on!Since January, Cardano has been trailing through the green zone between $0.93 and $0.27 more or less dynamically. Primarily, we expect the altcoin to move deeper into the green zone to finish wave 2 in green. Afterwards, it should develop massive upwards momentum to make it above the resistance at $1.64, which would then augur well for further ascent above the next resistance at $2.46.
ADAUSD - Descending Triangle - SHORTADA is approaching the end of a descending triangle that has been forming since May. I opened a short trade with a target of 0.3874. Stop loss will be set at the 50 day moving average.
Long term bullish for ADA!
ADA DailyBad Bad Triangle, either gown as bounced from support line or up to test higher one
What do You think?
Cardano 1H Channel Updated (Still Bull)We removed the rising channel on Cardano as it has been broken twice, but the technicals remain the same; bullish.
Notice 30-June low on ADAUSD remains intact, that's the main support.
As long as Cardano remains trading above this level, the bullish potential remains active.
If ADAUSD moves and closes below this level, at that time the potential for lower prices open up.
Notice the green and red arrows...
These are the main scenarios, "IFs".
For us, for trading, it goes like this...
(1) Buy and hold.
(2) If ADAUSD goes below $0.4350 sell at a loss (tight stop-loss).
(3) If ADAUSD stays above this level and grows, collects profits.
Patience is key.
This is not financial advice.
Namaste.
Cardano Short-Term Updated (New Bullish Signals)This is an update to the trade idea published 8-June for Cardano (ADAUSD).
We have new bullish signals.
We have this ascending channel working as a rising consolidation range, what I call bullish consolidation.
We have a higher low today, 10-June, compared to 30-June.
The higher low candle, a -8 Doji, has the highest volume since 10-June, signaling strong buying pressure.
We continue bullish and expect prices to grow based on the data coming from this chart.
Namaste.
ADA/USD Massive descending triangle and breakout of the trend As we can see, ADA has formed a massive downward triangle. The goal of which is to cover the imbalance formed in growth from December 2020 - January 2021.
