Hi All,
Observations:
> Looking at the structure, it makes plenty of sense that we have likely hit the top on this impulse being point 5
> The indicators on the Daily show a bearish divergence and the chart below showing the downward pressure
> Target 1 equates to the height of the Triangle
> We have had an upward parallel channel with a upward wedge on the last section, indicating a squeeze at the top
> The 21/50 EMA acting as support for ADA's upward trend
The following chart below demonstrates , with a possible wedge to demonstrate the squeeze to the top before dropping to the 0.5 or 0.618 fib retracement level.
8 HRLY chart > Downward pressure on the indicator
My thoughts:
Stay away from ADA going long at this point until we have further confirmaitons;
Please give me a like or tick for this post
Regards,
S.Sari
Observations:
> Looking at the structure, it makes plenty of sense that we have likely hit the top on this impulse being point 5
> The indicators on the Daily show a bearish divergence and the chart below showing the downward pressure
> Target 1 equates to the height of the Triangle
> We have had an upward parallel channel with a upward wedge on the last section, indicating a squeeze at the top
> The 21/50 EMA acting as support for ADA's upward trend
The following chart below demonstrates , with a possible wedge to demonstrate the squeeze to the top before dropping to the 0.5 or 0.618 fib retracement level.
8 HRLY chart > Downward pressure on the indicator
My thoughts:
Stay away from ADA going long at this point until we have further confirmaitons;
Please give me a like or tick for this post
Regards,
S.Sari
Note
update: No change to the downward pressureNote
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.