ADA Correction Nearing Completion — Is It Time to Load Up?

Aug 2

After tagging the golden pocket resistance zone between $0.9208–$0.9527, ADA completed a clean 5-wave Elliott impulse right into a major resistance. Since then, price has corrected -25%, and we’re now likely nearing the end of an ABC correction — the final wave C.

🧩 Technical Breakdown

➡️ Wave A: 5-wave drop after the peak
➡️ Wave B: Bounce rejected at yearly open (yOpen) — that was a great short opportunity around $0.845
➡️ Wave C: Now working toward completion

🎯 C Wave Target Zone: $0.69–$0.65

This zone has strong confluence:

• 0.618 Fib retracement of the entire 5-wave move at $0.6732
  
• 1.0 TBFE (Trend-Based Fib Extension) aligns perfectly
  
• Sell-side liquidity (SSL)
  
• 0.786 Fib Speed Fan support
  
• Monthly 21 EMA/SMA adding a final confluence layer
  

🟢 Long Setup

• Entry Zone: $0.69–$0.65 (ladder in)
  
• Stop Loss: Below the monthly 21 EMA/SMA ($0.6)
  
• Target 1: mOpen key resistance
  
• Target 4: 0.666 Fib at ~$0.95
  
• Risk:Reward: ~1:4+
  

💡 Educational Insight

After a 5-wave impulsive move, ABC corrections are common. Using the Trend-Based Fib Extension tool to project wave C, especially when paired with liquidity zones, VWAP, or moving averages, helps pinpoint high-probability reversal zones. It’s about confluence and reaction — not prediction.

🔍 Indicators

For this analysis, I’m using my own indicators

• DriftLine – Pivot Open Zones and
  
• MFT MA Support/Resistance Zones
  

both available for free. You can find them on my profile under “Scripts” and apply them directly to your charts for extra confluence when planning your trades.

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💬 If you found this helpful, drop a like and comment!

Aug 6

Trade closed: target reached

🚨 ADA Update

ADA played out perfectly, rejected right at the 233 EMA (1H TF) in confluence with:

🔹 Anchored VWAP
🔹 0.412 Speed Fan
🔹 0.702 Fib Retracement Resistance

After the rejection, price dropped into the Golden Pocket zone, offering a clean long opportunity.

📈 Next target:

Looking for a move up toward $0.79, which aligns with:

➡️ The Golden Pocket
➡️ The 0.618 Fib Speed Fan

Aug 8

Note

🚨 ADA Update

ADA’s $0.79–$0.80 target hit 🎯 ADA has been delivering clean setups.

Next upside target sits in the $0.83–$0.84 zone.

Aug 15

Note

All 4 TP’s hit - price tapped the $1 psychological resistance and got rejected. New analysis is needed.