Happy Icy Texas Friday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
ADA continues to be pushed downwards as the Bears continue to feast.
ADA touched the 78.6% local Fib and has now pulled back.
ADA continues to be in a Broadening Horizontal Wedge and breaking 1.12319 level (dashed yellow horizontal ray line) could bring ADA down towards the 100% Fib level.
Further push of price down could bring ADA towards the Green Support Trend Line of this Wedge and potential good buy area.
Levels to watch are:
100% Fib = 1.0706
1.136 Fib = 1.0037
If ADA bounces from the 78.6% Fib, the next level to watch out for is again the 21MA and eventually the Red Resistance Trend Line above.
MACD: If ADA manages to keep its level above 0.06582197 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk TimeFrame. Stoch RSI on this chart is still at the Oversold Region, below 20. Price action dictates where this should go although there's a momentum directed upwards. Only time will tell with price action if this indicator moves further upwards.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
ADA continues to be pushed downwards as the Bears continue to feast.
ADA touched the 78.6% local Fib and has now pulled back.
ADA continues to be in a Broadening Horizontal Wedge and breaking 1.12319 level (dashed yellow horizontal ray line) could bring ADA down towards the 100% Fib level.
Further push of price down could bring ADA towards the Green Support Trend Line of this Wedge and potential good buy area.
Levels to watch are:
100% Fib = 1.0706
1.136 Fib = 1.0037
If ADA bounces from the 78.6% Fib, the next level to watch out for is again the 21MA and eventually the Red Resistance Trend Line above.
MACD: If ADA manages to keep its level above 0.06582197 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk TimeFrame. Stoch RSI on this chart is still at the Oversold Region, below 20. Price action dictates where this should go although there's a momentum directed upwards. Only time will tell with price action if this indicator moves further upwards.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader