Sliding below Lower High levels. Short

T

Trading Ideas

Guest

Sliding below Lower High levels. Short
Cardano / Dollar (calculated by TradingView) BINANCE:ADAUSD
InvestingScope

ADAUSD comlies perfectly to the commanding 1D Channel Down ( RSI = 42.754, MACD = -0.015, B/BP = -0.0151) selling pressure. From May 10 until May 31, it's been trading on the lower half of the Channel and now we see it above the PP . This doesn't alter our bearish target (TP 0.1443) as 4H has already started to descend (neutral RSI , ADX , CCI , Highs/Lows to bearish STOCH , MACD , UO, ROC ) following the latest rise to a Lower High. Eventually a test of the 1W support = 0.1217 will take place.

Continue reading...