ADA/M20 did a retracement down, as I mentioned in my last published Idea which is linked below, and went through my take profit 1 on that idea but now found support on the Fib Support 1.
It also has a bullish divergence on the RSI marked with the two purple squares. And marked in the green circle is a potential break of the Tenkan ( Yellow Line ) up through the Kijun ( Dark Blue Line ) which points to a bullish momentum being on the horizon.
If we consider as well the twist in the cloud just a couple candles away and the relatively thin thickness of the cloud above present price action, resistance at that level seems weak.
If it starts moving up I would expect a test of the pivot at TP1 and maybe Fib Resistance 1 at TP2.
Be careful leverage trading is risky so manage your position sizing accordingly!
If you like my ideas and the work I do, please check out the links in the signature ;).
It also has a bullish divergence on the RSI marked with the two purple squares. And marked in the green circle is a potential break of the Tenkan ( Yellow Line ) up through the Kijun ( Dark Blue Line ) which points to a bullish momentum being on the horizon.
If we consider as well the twist in the cloud just a couple candles away and the relatively thin thickness of the cloud above present price action, resistance at that level seems weak.
If it starts moving up I would expect a test of the pivot at TP1 and maybe Fib Resistance 1 at TP2.
Be careful leverage trading is risky so manage your position sizing accordingly!
If you like my ideas and the work I do, please check out the links in the signature ;).
Suggestion for those who followed the idea: Take profit 1 hit (take a certain percentage of the volume in profit ), move the stop loss to break even.
If you like my ideas and the work I do, please check out the links in the signature ;).