SJ-TRADES

Cardano Perp ADA Short Setup

Short
BINANCE:ADAPERP   ADA Perpetual Futures Contract
Price action is kept the 30,50, and the 100 EMA

200EMA has been a strong support for 5 + days

but with every touch it becomes weaker .

We are at the top of a decending channel and i dont see LONGS being the best play here

2 options too short

Either short the Red box marked on the chart with a sl above the prev high or wait for the

Swing failure pattern.

Obviously there is no guarentee that we have a SFP but that is what i would like to see .

There is alot of resistance above us and i dont see us pushing up so easy from here.

I think it will take something special to do this as we have the 30, 50, 100 EMA above us

and the POC and we are at the top of the channel .

Have a clear invalidation whatever you decide and stick to your trading plan

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Order cancelled: no sfp and big volume ..no trade taken