ADAZ19 Structures & Trendlines & TargetsCardano traded into a structure. I drew the trendlines from wick to wicks, and took a trend fib extention measurement from the low to the high and back down to the low. We entered the trade once the 4hr 20ma was breached and held on a test of support. I set my target aiming for the 0.618 extention, which is above the trendline. Once the trendline is breached, I will trade the break aiming for the 1:1 trend extention, of course depending on what dominance is doing. I placed my stop below the trendline, which was also
Another reason I took this trade is because of declining dominance. Must keep an eye on dominance and this falling wedge structure it has been forming. If it breaks bullish out of this falling wedge, alts will take a hit. If it breaks bearish out of this wedge, well then it's go time on alts.
I'm changing the format of my channels back to a major focus on education - mostly risk management, and trade setups. Here on tradingview I will not be posting signals, only educational material based on past trades as I have done with this trade. I Had lost a little clarity and was focusing too much on trades and setups, and not explaining much. However, I came back from an amazing vacation focused and clear-minded. Now I'm going to give it all away for the benefit of those interested in learning how to trade, and how to manage their risk properly.
Original Signal:
#ADA/Z19
Exchanges: Bitmex
Signal Type: Regular (Long)
Leverage: 5
Entry Zone: 482-485
Take-Profit Targets: 490-500-510-520-530
Stop Targets: 470
Risk: 14.45%
Reward: 57.85%
Rate: 483
BitMEX
#ADA/Z19 Take-Profit target 1 & 2
Profit: 16.7%
