Cardano (ADA) formed bullish Gartley for upto 27.5% move
Hi dear patrons, hope you are well and welcome to the new update on Cardano (ADA).
Previously we had a good trade by ADA was a bullish BAT pattern:
Now again on the daily time frame chart, the price action has formed a bullish Gartley pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: $1.1714 to $1.0894
Sell between: $1.2359 to $1.3909
Stop loss:
The maximum extent of the potential reversal zone of $1.0894 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility up to 27.5% and the loss possibility is 7.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Previously we had a good trade by ADA was a bullish BAT pattern:
Now again on the daily time frame chart, the price action has formed a bullish Gartley pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: $1.1714 to $1.0894
Sell between: $1.2359 to $1.3909
Stop loss:
The maximum extent of the potential reversal zone of $1.0894 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility up to 27.5% and the loss possibility is 7.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade