ADA GREAT Long Opportunity
As shown in the chart this is an inverted head and shoulders pattern.
Most often price will reach the 1:1 extension of the distance between the Head and the neck line (shown by the yellow line) taken from the top of the right shoulder.
The stop loss is placed below the tip of the right shoulder.
Entry = 0.3748
Take Profit 1 = 0.4755
Take Profit 2 = 0.5543
Stop Loss = 0.2921
The fundamentals at the moment are really bearish, so I won't be taking this trade, but it could be a good option to enter this to hedge some risk if you are shorting other coins at the moment.
Not financial advice, intended for educational purposes only
Most often price will reach the 1:1 extension of the distance between the Head and the neck line (shown by the yellow line) taken from the top of the right shoulder.
The stop loss is placed below the tip of the right shoulder.
Entry = 0.3748
Take Profit 1 = 0.4755
Take Profit 2 = 0.5543
Stop Loss = 0.2921
The fundamentals at the moment are really bearish, so I won't be taking this trade, but it could be a good option to enter this to hedge some risk if you are shorting other coins at the moment.
Not financial advice, intended for educational purposes only