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Adausdanalysis

ADA → Cardano Heading for $0.65!? In a Key Support Zone.ADA completed its 2-legged pullback per my previous analysis and even overshot the key support zone to Push #1 support at $0.41. Is this an opportune time to long? Previous Analysis: How do we trade this?  🤔 Cardano found support at Push #1 support from the previous bull trend around $0.40 and has rebounded to the Daily 200EMA. It's reasonable to expect a pullback from the 200EMA to the $0.45-$0.47 area in the Support Zone. We need a strong bull candle closing on or near its high followed by a confirmation candle to support the idea of longing ADA. Even with such price action, we should be cautious given Bitcoins likely pullback from its recent all-time high and halving period. That being said, it's reasonable to think Cardano will have more upside before it comes down and with the signal and confirmation bar off of the Support Zone, it's reasonable to enter a long position toward the $0.65 range. Take half profits at 1:1 Risk/Reward at $0.5635, move the stop loss up to the entry price, then swing the latter half of the position to Take Profit #2 target of $0.65. The likelihood of hitting $0.65 is less than ideal, but it's worth holding that second take profit target until the price action gives us a reason to exit the trade. This analysis is in alignment with my recent ADA Lifetime Analysis as seen here: 💡  Trade Idea  💡 Long Entry: $0.4767 🟥 Stop Loss: $0.3900 ✅ Take Profit #1: $0.5635 ✅ Take Profit #2: $0.6500 ⚖️ Risk/Reward Ratio: 1:2 🔑  Key Takeaways  🔑 1. 2-Legged pullback completed at Support Zone. 2. Double Bottom pattern at Support Zone 3. Strong bull candle to Daily 200EMA, expect a pullback to the Support Zone. 4. Look for a strong signal candle closing on or near its high with a confirmation candle following. 5. RSI is at 41.00 and above the Moving Average, supporting the idea of a long position. 💰  Trading Tip  💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️  Risk Warning!  ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
KRAKEN:ADAUSDLong
by TraderEngineering
8
ADA → Cardano to $0.40? or $1.40? Get your Longs Ready!ADA completed its 230% price increase since October 2023 and now appears to be finding some resistance. Should we short here? How do we trade this?  🤔 Shorting is not ideal on the Daily timeframe. Since October 2023, ADA has put in three legs in a bull trend, a double-top reversal pattern that has come off of an ascending wedge (bearish pattern). We're now finding resistance below the Daily 30EMA with a gap down to the Daily 200EMA. This analysis screams a two-legged pullback to the 200EMA, likely in alignment with the Bitcoin halving that's about to happen in April 2024. Short on the 1HR timeframe, but get your equity ready for a long position when ADA comes into contact with the $0.53-$0.57 price area. Look for a strong bull candle closing on or near its high off of the Daily 200EMA, this is our signal bar and a reasonable one to enter on with a 1:2 Risk/Reward Ratio, aiming for a conservative target of $0.775. A confirmation bar should take us somewhere in the $0.60-$0.65 range. If we see this, given the crypto market's similar sentiment after the halving, it's reasonable to enter at a 1:2 risk reward aiming for the $1.20 area. It's reasonable to take half profits at 1:1 Risk/Reward and swing the latter half of your position to 1:2, 1:3, or even 1:4 Risk/Reward on this timeframe, depending on how the price action plays out. This analysis is in alignment with my recent ADA Lifetime Analysis as seen here: 💡 Trade Idea 💡 Long Entry: $0.55 🟥 Stop Loss: $0.4375 ✅ Take Profit #1: $0.663 ✅ Take Profit #2: $0.775 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three legs in a bull trend 2. Double top reversal pattern which has come off of an ascending wedge (bearish pattern) 3. Finding resistance below the Daily 30EMA with a gap down to the Daily 200EMA. 4. Look for a 2-legged pullback to the 200EMA, likely in alignment with the Bitcoin halving that's about to happen in April 2024. 5. RSI is at 48.00 and Above the Moving Average, supporting the idea of a pullback to the 30.00 area below the Moving Average. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
KRAKEN:ADAUSDLong
by TraderEngineering
ADA → Cardano Gearing up for a Reversal? Let's Answer.ADA has been on a strong bull run since October of this year and we've finally come to the end of a measured move and three legs up. Are we gearing up for a reversal? How do we trade this?  🤔 We don't have enough evidence for a short entry just yet, but we do have some key data points in our favor. We've completed a measured move to the current price, had three pushes up in a bull trend, two failed attempts to break $0.68, and a gap down below the large bull candle. What we're missing are the sell confirmation candles. ADA needs to break below the Daily 30EMA, close a strong bear candle, and possibly test the 30EMA as resistance before we enter a short. The re-test of the 30EMA as resistance isn't required, but would add to the probability of profit if achieved. Once these conditions are met, it's reasonable to enter a 1:1 Risk/Reward Ratio trade around $0.565, placing a protective stop around $0.70, which puts your take profit at $0.43 above the previous high or "Support Zone". This is a conservative trade because we have several areas of support to consider. 💡 Trade Idea 💡 Short Entry: $0.565 🟥 Stop Loss: $0.700 ✅ Take Profit: $0.430 ⚖️ Risk/Reward Ratio: 1:1 🔑  Key Takeaways  🔑 1. Potential Double Top after there pushes up. Bias to Short. 2. Large Pin Bar Top on Second Attempt. 3. Wait for break below Daily 30EMA to Enter Short. 4. Large Bull Bar after Breakout, Gap to Close. 5. RSI at 57.00 and below Moving Average. Bias to Short. 💰  Trading Tip  💰 Reversal trading is inherently low probability because you're betting against the trend. The tradeoff is your reward will be much higher if you swing trade it. This kind of trade is the inverse of trend trading, where the probability is higher but the reward is lower. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
KRAKEN:ADAUSDShort
by TraderEngineering
4
ADA → Breaking $0.40! This Analysis Shows a Cardano Moon Shot!Cardano is showing great bull strength toward the $0.40 price and has made a few attempts to break it! We're in the midst of a trading range pullback from the previous bull run waiting for the signal to go long. How do we trade this? Our bias for ADA should be bullish! We're fresh off of a bull run and are currently in a pullback. Much of the crypto market is in a similar holding pattern, including Bitcoin which has not yet broken its Weekly Resistance. Before jumping into a long, we likely need another pullback to the 30EMA and a strong bull signal bar followed by a strong confirmation bar closing on or near its high. Once those conditions are met we have a potential run to the next Resistance Zone at $0.45! Always be ready to change your bias. The next attempt to break resistance could result in a bear signal bar, along with Bitcoin, which signals a market reversal. We will consider the chart at that time but for now, watch for the bull signal bar to long! Trade Idea Long Entry : $0.375 Stop Loss: $0.353 Take Profit: $0.440 Risk/Reward Ratio: 1:3 Key Takeaways 1. Bull Breakout of 200EMA Followed by Bull Run. Bias to Long. 2. Bull Flag Continuation Pattern, Bias to Long. 3. Look for Support at 30EMA. 4. Do not Long until Bull Signal and Confirmation Bars Appear. 5. RSI at 55.00, below Moving Average. Bias to Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
KRAKEN:ADAUSDLong
by TraderEngineering
2
ADA - CARDANO - in charles we trust ; the neverending story IVADA - CARDANO - in charles we trust ; the neverending story IV Ok, this ship looks to me to be turning. its all there on this blessed chart. which i diligently read the tea leaves for you to succeed in this casino. cardano did 100x+ TWICE. from the same frigin price point in two different cycles. iam pretty sure she goes for a third. does it all play out exactly the same? maybe, prob not, but i bet it will be pretty similar. key points here; check that momentum signature at the bottom there. the same shape. same levels basically. maybe we get that second option for another nuke 40% or so but my money (irl) is on that relief bear market pump first. then some black swan to wipe everyone out again and thats when cycle 3 begins. this will be my last ADA chart for awhile. think ive been over doing it. now we've had some interesting price action it was time to do this last one and sit back and see what happens. I AM ACCUMULATING lfg. take me to the promised land charles.
BINANCE:ADAUSDLong
by Crypto-Quantum-Fox
21