Evening Traders,
Today’s analysis – ADAUSDT – trading in a constructive downtrend with another potential lower high intact,
Points to consider,
- Price Action Corrective
- .618 Resistance
- Pitchfork .618 Resistance
- VAH Confluence
ADAUSDT’s immediate price action is corrective and is has rejected from a key level, allowing for a bearish bias.
The level has confluence with the .618 Fibonacci of the Pitch fork and the Fib Retracement ratios, this adds more sifnigicane.
The immediate objective is the lower end of the pitch fork, this will continue the overall bearish market structure.
Overall, in my opinion, ADAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Today’s analysis – ADAUSDT – trading in a constructive downtrend with another potential lower high intact,
Points to consider,
- Price Action Corrective
- .618 Resistance
- Pitchfork .618 Resistance
- VAH Confluence
ADAUSDT’s immediate price action is corrective and is has rejected from a key level, allowing for a bearish bias.
The level has confluence with the .618 Fibonacci of the Pitch fork and the Fib Retracement ratios, this adds more sifnigicane.
The immediate objective is the lower end of the pitch fork, this will continue the overall bearish market structure.
Overall, in my opinion, ADAUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
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Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.