ADH trade ideas
ADH.ASX_Bearish Pullback Trade_ShortENTRY: 2.24
SL: 2.42
TP: 2.09-2.11
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Breakdown on 20 May 2022 with a pullback to support-turn-resistance area (2.40) before moving down again.
- Entry based on today >3% rebound off 10EMA with volume.
ADH.ASX_Breakdown Trade_ShortENTRY: 3.45
SL: 3.80
TP: 3.04-3.12
- ADX<20. Would like to be higher.
- RSI<50,RSI>30
- Daily RS -ve
- Daily FFI -ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Range since 23 Jun 2021 shows sellers in control.
- Broke down from triple top formation since Aug 2021 and retraced under lower volume before resuming downtrend.
- Break previous low today with above average volume.
Potential Long Setup for ADH - Daily ChartADH has presented a good trade setup, price has recently broken out of a key level and has now come back to retest this level, broken resistance commonly acts as support, which makes it a textbook trade setup to the long side. if we get a strong close today, that would be a buy signal for me with a stop loss 1 ATR below recent lows, plenty of upside potential as ADH is in a long term uptrend.
Potential Play on ADH from $2.05 to $2.13Identified a symmetry pattern present on the daily charts and supported on the hourly charts too. On the daily charts there was a symmetry of 14 bars, with varying % gains. These symmetry positions are taken from an upward analysis, given the stock appears to be trending down (based on shorter time frames).
The hourly chart also supports the entries, however, due to the smaller time frames, there are multiple clusters, but the entry position of $2.05 (zone) to $2.13 (zone) is supported.
From a 15 minute to a 5 minute chart pattern there is no support of this theory.
