Long
ADA/M20 4H Ichimoku and RSI Divergence trade possibility
ADA/M20 did a retracement down, as I mentioned in my last published Idea which is linked below, and went through my take profit 1 on that idea but now found support on the Fib Support 1.
It also has a bullish divergence on the RSI marked with the two purple squares. And marked in the green circle is a potential break of the Tenkan ( Yellow Line ) up through the Kijun ( Dark Blue Line ) which points to a bullish momentum being on the horizon.
If we consider as well the twist in the cloud just a couple candles away and the relatively thin thickness of the cloud above present price action, resistance at that level seems weak.
If it starts moving up I would expect a test of the pivot at TP1 and maybe Fib Resistance 1 at TP2.
Be careful leverage trading is risky so manage your position sizing accordingly!
If you like my ideas and the work I do, please check out the links in the signature ;).
It also has a bullish divergence on the RSI marked with the two purple squares. And marked in the green circle is a potential break of the Tenkan ( Yellow Line ) up through the Kijun ( Dark Blue Line ) which points to a bullish momentum being on the horizon.
If we consider as well the twist in the cloud just a couple candles away and the relatively thin thickness of the cloud above present price action, resistance at that level seems weak.
If it starts moving up I would expect a test of the pivot at TP1 and maybe Fib Resistance 1 at TP2.
Be careful leverage trading is risky so manage your position sizing accordingly!
If you like my ideas and the work I do, please check out the links in the signature ;).
Note
TAKE PROFIT 1 ACHIEVED!Suggestion for those who followed the idea: Take profit 1 hit (take a certain percentage of the volume in profit ), move the stop loss to break even.
If you like my ideas and the work I do, please check out the links in the signature ;).
Related publications
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.
Related publications
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.