Let's be realistic here, the market for ADA is quite extended right now so expect a pullback then a bounce off to the upside. This is looking very bullish especially with the smart contract on the side so expect to break the all-time high.
The RSI is above 80 so look out for the prices to either stay stable or correct itself to around the $1.9 level. I still...
Purple Line = Daily SNR/Trendline
Red Line = 4 Hour SNR/Trendline
Orange = 1 Hour SNR/Trendline
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I love trading these small pullbacks. We have a clear three drive pattern, watching RSI shows price can't surpass the 67-68 levels. OVERBOUGHT.
Sellers stepped in and continue to push price down. Possibly to test that support line I've drawn. Let me know your thoughts on pullbacks. We know this is a small pullback before another potential push to the upside.
Now's looking like a good time to short the GBP/NZD pair as RSI (14) is indicating an overbought signal which confirms a pullback is bound to happen. Price should drop back to previous structure or even the tested trendline so we'll keep an eye out on these zones.
Trade Details :
SL : 1.9755
TP 1 : 1.9600
TP 2 : 1.9440
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Since finding support around 1.2690 the Pound has managed to retrace ~350 pips and is now sitting right below the 1.300 handle, which was formerly support now turned resistance. Depending on today's close, we might be entering into a range as the Dollar continues to give ground against the other majors. For now, I'll be watching and waiting for a signal from my...