Keep it Simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
ADA has made an almost perfect hold at the first green box in the 400's Sats range. For those that took this trade you have already hit the first profit target and close to the second! So a very Profitable Trade so far!
The one thing I love with ADA so far is that it has held the important 400 sat support level, AND the continued higher low of wicks is suggesting that longs are being filled. If you look closely at the last 15 weekly candles there are three big wicks which form this higher low play. This is normally seen in traditional markets when there is a huge volume of the asset being bought - signs that ADA is likely to rise from this level!
If you didn't manage to enter in the zone I wouldn't say its too late, chances are another wick to the lower end of the green box will happen so entries in that range would be good, with a stop below the box.
If ADA does re-test the support of 4300 and doesn't hold, then the second green box is where I would look to ladder in my longs. This is an important level of support which has yet to be tested, and is a common theme in many ALTS as to whether they will hold their current levels, or continue to the down side.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
ADA has made an almost perfect hold at the first green box in the 400's Sats range. For those that took this trade you have already hit the first profit target and close to the second! So a very Profitable Trade so far!
The one thing I love with ADA so far is that it has held the important 400 sat support level, AND the continued higher low of wicks is suggesting that longs are being filled. If you look closely at the last 15 weekly candles there are three big wicks which form this higher low play. This is normally seen in traditional markets when there is a huge volume of the asset being bought - signs that ADA is likely to rise from this level!
If you didn't manage to enter in the zone I wouldn't say its too late, chances are another wick to the lower end of the green box will happen so entries in that range would be good, with a stop below the box.
If ADA does re-test the support of 4300 and doesn't hold, then the second green box is where I would look to ladder in my longs. This is an important level of support which has yet to be tested, and is a common theme in many ALTS as to whether they will hold their current levels, or continue to the down side.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.