Cardano bullish? Falling wedge and inverted H&S
I just opened a long position on ADA/USDT
two bullish patterns, one within the other: inverted head and shoulders | Falling wedge
1- falling wedge:
Stats:
Break-even failure rate: 11% in a bull market; 11% in a bear market
Average rise: 32% in a bull market; 26% in a bear market
Percentage meeting price target: 70% in a bull market; 60% in a bear market
2- inverted head and shoulders:
Stats:
Break-even failure rate: 3% in a bull market; 4% in a bear market
Average rise: 38% in a bull market; 30% in a bear market
Percentage meeting price target: 74% in a bull market; 58% in a bear market.
As always, risk vs reward is the key thing to consider for someone who wanna be a successful trader; I've already set up my stop loss and will shortly update this idea with price targets.
Trade carefully ;)
two bullish patterns, one within the other: inverted head and shoulders | Falling wedge
1- falling wedge:
Stats:
Break-even failure rate: 11% in a bull market; 11% in a bear market
Average rise: 32% in a bull market; 26% in a bear market
Percentage meeting price target: 70% in a bull market; 60% in a bear market
2- inverted head and shoulders:
Stats:
Break-even failure rate: 3% in a bull market; 4% in a bear market
Average rise: 38% in a bull market; 30% in a bear market
Percentage meeting price target: 74% in a bull market; 58% in a bear market.
As always, risk vs reward is the key thing to consider for someone who wanna be a successful trader; I've already set up my stop loss and will shortly update this idea with price targets.
Trade carefully ;)