Cardano (ADA) is currently consolidating inside a symmetrical triangle pattern, with a potential breakout in the coming sessions.
🔹 Key Observations:
ABCD harmonic structure is forming, aligning with the broader triangle.
Strong demand zone around 0.90 – 0.88 acting as support.
Volume is gradually decreasing during consolidation → typical before a breakout.
Breakout confirmation expected near the triangle apex.
🔹 Trade Idea:
Entry: Inside the triangle (0.918–0.920 zone).
Stop Loss: Below 0.900 support box.
Target: 0.96 – 1.00 (triangle measured move).
This setup offers a favorable risk-to-reward ratio with confirmation from both harmonic pattern completion and price structure.
⚠️ As always, breakout confirmation is key — wait for volume spike on the move.
🔹 Key Observations:
ABCD harmonic structure is forming, aligning with the broader triangle.
Strong demand zone around 0.90 – 0.88 acting as support.
Volume is gradually decreasing during consolidation → typical before a breakout.
Breakout confirmation expected near the triangle apex.
🔹 Trade Idea:
Entry: Inside the triangle (0.918–0.920 zone).
Stop Loss: Below 0.900 support box.
Target: 0.96 – 1.00 (triangle measured move).
This setup offers a favorable risk-to-reward ratio with confirmation from both harmonic pattern completion and price structure.
⚠️ As always, breakout confirmation is key — wait for volume spike on the move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.