ADA Expanded Flat correction?

18 jul

I am short-term bearish on ADA because, in the 15-minute timeframe, I can see a bearish divergence on the RSI. I will wait to see how it plays out before entering into a long position.


I am sharing my thought process on these market moves and adjust my analysis as the market evolves. This is not meant to be followed by others, as I am prone to mistakes like anyone else. Instead, I welcome feedback that can help me question and refine my analysis.

19 jul

Comentarios

If price moves to 0.4060, then I will enter into long position and my first target would be at 0.4280 and second target at 0.4360. My stop loss would be at 0.3893. As soon as i see an opportunity I will place my stop loss to breakeven.

19 jul

Orden cancelada

I am not going to open that long position at 0.4060 because wave (iv) has entered into wave (i) territory, which means my analysis is wrong. I am now thinking there might be a flat correction forming, and I will wait for wave B to form before taking action.