ADA: Must Conclude Distribution Continues Here is Why
Updated
Hi Everyone! We must conclude Distribution continues. If Distribution continues, this would mean we are looking at ANOTHER Sign of Weakness in Phase E of our Distribution Schematic. Why? Because we have ranged sideways several 3-Day candles AFTER falling down with a Sign of Weakness in Phase E. Since we have "ranged sideways" AFTER this Sign of Weakness; we must conclude this "ranging sideways" could be our "Selling Climax" in Phase A of Accumulation. Did you know a Selling Climax in Phase A of Accumulation is also a Sign of Weakness event in Phase E of Distribution? ALWAYS REMEMBER: Phase A of Accumulation and Phase E of Distribution ALWAYS OVER-LAP.
Where could we fall down to with another Sign of Weakness event in Phase E? Well, I'm still leaning toward $0.28 to $0.235 range. Could we fall further? Sure, it's possible. But I'm leaning toward $0.28 to $0.235. Which is somewhere between the upper and lower boundary of the RED Descending Channel drawn on my 2021/2022 Distribution chart.
Hope this was helpful...
If you don't mind, please take a moment to click the like (boost) icon to show your support!
Happy Trading and Stay Awesome as Always!
David M Ward Jr.
Where could we fall down to with another Sign of Weakness event in Phase E? Well, I'm still leaning toward $0.28 to $0.235 range. Could we fall further? Sure, it's possible. But I'm leaning toward $0.28 to $0.235. Which is somewhere between the upper and lower boundary of the RED Descending Channel drawn on my 2021/2022 Distribution chart.
Hope this was helpful...
If you don't mind, please take a moment to click the like (boost) icon to show your support!
Happy Trading and Stay Awesome as Always!
David M Ward Jr.
Note
UPDATE:2021/2022 Distribution Schematic:
Risk for Stage 1 Expansion Down in the next 8-hour candle. Risk for Stage 2 Expansion Down the next 4-hour candle:
Risk for Stage 1 expansion down soon in the 12-hour and 24-hour time frames.
Risk for Stage 2 expansion down soon in the 2-Day time frame.
Risk for Stage 3 epxansion down soon in the 3-Day time frame.
Risk of Stage 2 Expansion Down in this 10-Day time frame. This "expansion down" could take us down potentially to the Orange Lower B-Band at $0.235.
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.