ADA is overall bullish trading inside our red channel so we will be looking for Trend-Following Buy setups as it approaches the lower red trendline.
Moreover, the area 1.450-1.50 is a "Resistance turned into Support".
So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in blue and lower red trendline.
As per my trading style: I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich
I have been doing tech trading from last 10 years but your way of explaining the trade setup is excellent. You do not over complicate the things and provide most profitable setups with simplicity. Many thanks for your hard work!
TheSignalyst
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@hardikbilota, Respect gentleman! thank you for sharing your feedback out loud. it means a lot to me. keep it up you too :D