ADAUSD: Let Me Explain Why This is Not Moon Time Yet

Hi Everyone! The MAIN reason this is not "Moon Time" in my opinion; is due to how low the Red RSI and Blue LSMA are in several time frames within the Mid Term Group of time frames. Could this be the "beginning" of a potential long term period of upward pressure? Yes... PROVIDING the Red RSI -AND- the Blue LSMA can "BOTH" get above Level 50 in one time frame after the other in the "ENTIRE" Near Term Group of time frames in order for the Red RSI and Blue LSMA to "BOTH" get above Level 50 in the Mid Term Group of time frames. This is still a long ways off yet. My opinion of course. So, to let you know, it's also possible this could be a "Bull Trap." It's still a bit soon to get excited yet about about potential long term period of upward pressure. I'm simply not convinced yet.

Happy Trading and Stay Awesome!

David

Kommentera:

UPDATE:

5-Day time frame: