ADAUSD formed Gartley | Upto 45% move expected
On daily chart, the price action of Cardano has completed bullish Gartley pattern and spiked in the potential reversal zone. It may give another chance to catch it from the PRZ level. There are also 100 simple moving average support below the potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Gartley pattern should be:
Potential reversal or buying zone: $0.13099 to $0.11672
Fibonacci projection or sell zone: $0.14221 to $0.169436
Stop Loss:
The potential reversal zone area that is up to $0.11672 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 45% and as per the above-mentioned stop loss, the loss possibility is 11%.
Note: Above idea is for educational purpose only.
Buying And Sell Targets:
The buying and sell targets according to harmonic Gartley pattern should be:
Potential reversal or buying zone: $0.13099 to $0.11672
Fibonacci projection or sell zone: $0.14221 to $0.169436
Stop Loss:
The potential reversal zone area that is up to $0.11672 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 45% and as per the above-mentioned stop loss, the loss possibility is 11%.
Note: Above idea is for educational purpose only.
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.