Hello everyone, if you like the idea, do not forget to support with a like and follow.
ADA is sitting around strong support and round number 1.50 in blue so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?
on H1: ADA is forming a channel in orange but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ADA would be overall bearish and can still trade lower and even break the blue support downward.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich
Regardless of all other factors you cited, ADA will move in the same direction as BTC at the beta du jour. Hi freq bots are programmed to trade it this way.
@Angela_johnson thank you for sharing your thoughts here. There is nothing wrong or right. Follow your trading plan.
We also have a support as you can see in blue. So until it breaks it downward, we are still bullish.
BrianM20
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@TheSignalyst, by the way the "support" drawn here is already broken, what a joke!
TheSignalyst
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@BrianM20, to me, it is not. if it is broken for you, then don't look for buy setups. focus on your trading plan instead of criticizing traders' ideas.
BrianM20
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@Angela_johnson, ya I agree the chart could not be more amateur. I might get to buy at 1.39 with SL at 1.34. Also putting another one 1.37 with stop loss at 1.332.
TheSignalyst
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@BrianM20 thank you for your feedback Brian 😁 i like the sentence "could not be more amateur"
You made my day 🙌
BrianM20
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@TheSignalyst, any time! Hopefully, you ADA trade will make your day!