ADA.USDT (Y20.P3.E5.v2).Looking for the next long

2020年8月25日

Hi All,

*** This is a continuation of the previous post, link provided below. ***
Note: Log settings are not enabled on this chart.

I have come across the LIVERMORE Speculative Chart just today and it seems many of the ALTs are doing this in some form or fashion.
I have yet to spend much time on learning all the details to this strategy.
So my first attempt is on ADA.

The LIVERMORE base structure starts off with a accumulation cylinder with a widening mouth, just like ADA here.
The 1,2, 3, 4,5 ,6, 7 what I understand usually aligns with the Elliot impulse with 6,7 corresponding to a ABC correction.

So I have given the background to this approach and now its now a matter of waiting for a bullish reversal to jump in, if this is to be true.

Lets see if I have interpreted this correctly.
- I have both indicators over into the reversal area of the stochastic, phoeix and RSI indicators on the daily;
- I have price action on a trend line (support) as well as a fib level;

If ADA is to do what is on this post, then its likely BTC will be defended here and no new lower lows.
ADA might wick down a little lower with a acceptable deviation for this chart structure to work or be true. So might BTC.

Below is a high level overview which I believe could align with the Livermore strategy.


Regards,
S.Sari

Overview with key levels on the fib as resistance which also equate to targets.
Aligns well with this strategy, if its true.



PREVIOUS POST to this topic

2020年8月25日

註釋

Here makes sense. If it drops more, then I would dismiss this post and look to learn where I went wrong.

2020年8月25日

註釋

2020年8月26日

取消訂單

I believe after reviewing this again, and also applying the inverted BARR method, I had the chart wrongly defined by the Livermore method. Here is the corrected version and hence at the MACRO level, Ada is not looking good.

2020年8月26日

註釋

Confirmation of this structure is with price dropping below point 13.

2020年8月27日

註釋

keeping an eye on ADA