CARDANO is under pressure. Will it last or crack? $ADA Analysis
From the daily perspective of the ADA / USD chart, we see a strong trend line, which indicates a down trend.
But when we look at the Fibonacci retracement of the last impulse leg, we see that the price is at the important level of 0.382, which is trying to break down for the third time.
If the price falls below 0.382, the next level where the price will definitely respond is 0.618. This is where we will place our Take Profit if we open a Short position.
The trend line and level 0.386 also created a descending triangle formation.
Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
We hope you will join us for the next trade.
But when we look at the Fibonacci retracement of the last impulse leg, we see that the price is at the important level of 0.382, which is trying to break down for the third time.
If the price falls below 0.382, the next level where the price will definitely respond is 0.618. This is where we will place our Take Profit if we open a Short position.
The trend line and level 0.386 also created a descending triangle formation.
Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
We hope you will join us for the next trade.
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