Breaking down Cardano in 3 time frames
I am looking at Cardano on the daily, weekly and monthly time frames and breaking down what I see happening.
The daily I have been publishing some ideas there showing the wall at 1.20, the support at 1.10. Now there is clear resistance at 1.25 with support at 1.15
The weekly is overextended which means in my trading world that the moving average and the candle/price is getting too far apart. I show in past how this will almost always rally up or down back to the MA.
The good news with the monthly time frame is that it is overextended to the upside which is good for the bulls. We do know that the higher the time frame the more reliable the setup will be. For example a 1 hour chart technical breakdown is going to be more accurate than a 1 minute time frame.
My plan is to make regular videos so give me a follow if you feel like it.
The daily I have been publishing some ideas there showing the wall at 1.20, the support at 1.10. Now there is clear resistance at 1.25 with support at 1.15
The weekly is overextended which means in my trading world that the moving average and the candle/price is getting too far apart. I show in past how this will almost always rally up or down back to the MA.
The good news with the monthly time frame is that it is overextended to the upside which is good for the bulls. We do know that the higher the time frame the more reliable the setup will be. For example a 1 hour chart technical breakdown is going to be more accurate than a 1 minute time frame.
My plan is to make regular videos so give me a follow if you feel like it.
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