Cardano (ADA) Bullish Ascending Triangle, 5.11 R/L Ratio

Aug 1, 2018

Cardano is currently in an ascending triangle, & we have bullish divergence on the 1 day chart. This could be a promising long trade. Get in before the breakout and before the bounce from the trendline, don't pay retail.

Buy in:
1828 satoshis

Sell target:
1875 satoshis

Stop loss:
1820 (Max of 0.43% loss)

Or you can avoid selling if you believe the breakout is imminent. Keep in mind it will not follow the triangle exactly and may go sideways. Long as we have higher highs and the same resistance I will remain bullish. This pattern works well in crypto. Risk to reward is over 5, but will probably not follow the trading plan exactly, so should be used as a reference.

Thanks for viewing. Leave your thoughts below, I will respond to all of them.

Aug 1, 2018

Note

Look at how this pattern played out on IOTA yesterday. Textbook

Aug 1, 2018

Note

1941 sats should be the target if we do break out.

Aug 1, 2018

Note

Aug 1, 2018

Trade closed: stop reached

Stopped for now. Risk is too high. I closed at 1828 which was my entry. BTC drop caused this.

Aug 1, 2018

Note

This trade can recover if btc finds support somewhere.

Aug 1, 2018

Note

Going to wait for a few more candlesticks to see what will happen.

Aug 1, 2018

Note

Support still here, rebought some at 1832.

Aug 1, 2018

Note

Bitcoin went up and ADA blasted off. Nobody can really predict these events.

Aug 2, 2018

Trade closed: stop reached

I ended up selling my position for a 1% loss.