ADA Long based on Stoch RSI, Parabolic and Bollinger Bands. We should see a recovery of the recent drop to support levels.
SL at 1.358
TP 1.53 (10% x your leverage)
SL at 1.358
TP 1.53 (10% x your leverage)
Trade closed: target reached:
I closed this position at $1.49 for some 33% profit with 5x leverage. It is beneficial to look at previous lows or previous support levels that could now become the resistance in the short term trend. With the ADA trade, the previous supporting lows were 1.495 from a day ago. Three wicks hit this support and created the bottom of the BB. With this information it is wise to set TP slightly under the previous lows when going long.