ADA: Looks Like 30 to 31 and a Half Cents is First Obstacle

Hi Everyone! Is it possible we have seen a long test of support "after" a Spring event in Phase C and currently going up to $0.3050 to $0.3135 before a pullback with our first Last Point of Support (LPS) of multiple LPS events before eventually closing above $0.43 cents with a Sign of Strength in Phase D? Yes, it's possible this is what we are doing now in MACRO Accumulation.

I'm anticipating the price action to run up to $0.3050 to $0.3135 price range and then see a pullback to around $0.2800 to $0.2850. Then bounce back up to an even higher high. But let's wait for the push up to $0.3050 to $0.3135 range first and see what the indicators look like at that point in the 2-Day, 3-Day and 4-Day time frames in particular before drawing a conclusion we will continue up immediately after a pullback.

I hope this was helpful.

Happy Trading and Stay Awesome!

David

Note

MACRO Distribution and MACRO Accumulation Schematics:

Local RE-Distribution Period Schematic:

Note

UPDATE:

Looks like we may get a brief pullback to my 0.142 FIB at $0.2724 before continuing higher again.

Note

UPDATE:

ADA may see a pullback to Magenta Upper B-Band in 12-hour time frame in "proximity" to $0.3313 over the next 14 hours. We have to wait until the next 24-hour candle before we can determine if it can fall lower.

Note

UPDATE:

If a long is open at a rather high price (above $0.3480) The price may have potential to fall back down to proximity of that level.

Here's the short term group: Just doesn't look good at present. "Potential" to fall down to $0.3480'ish.

Here's the Near Term Group: I'm concerned about my Purple Energy in the 24-hour [Bottom Left of Center] falling below Level 50. Anticipating a drop but for how long it continues is anyone's guess at the moment. To hard to say at present. Would prefer to see the first 1h, 2h, 3h, 4h, 6h, 8h and 12h of the next 24h candle before getting potentially a better clue of where we could be going.

Note

UPDATE:

ADA: I placed a white price point on top of a white ascending diagonal trend line to show where our first diagonal line of support would be (Proximity to $0.3464).

Note

UPDATE:

ADA: $0.3635 to $0.3645 is current "horizontal" support. Will we "hold" this level or continue down? Don't really know at the moment. If you are scalping, that's not a bad area to take profit on a your short scalp ($0.3635 to $0.3645)

Note

WyckoffMode

Also on:

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.

WyckoffMode

Also on: