Bullish scenario 1.2 and 1.2! or sideways pattern for wave 2Esteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
ADAUSD.P trade ideas
Five wave ups and now a sideways correction patternEsteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
ADA Drops to Last Place in the Top 10 CryptocurrenciesADA Drops to Last Place in the Top 10 Cryptocurrencies
ADA, the native blockchain token of the Cardano network, has dropped to 10th place among the cryptocurrencies with the largest capitalization. Today, according to CoinMarketCap, the capitalization of Cardano (ADA) is USD 20.7 billion.
On the one hand, this happened due to the success of such competitors as:
→ Dogecoin (DOGE) with a capitalization of USD 27.1 billion, approximately +108% since the beginning of the year;
→ Toncoin (TON) with a capitalization of USD 23.7 billion, approximately +193% since the beginning of the year.
On the other hand, the ADA/USD rate behaves weaker than other cryptocurrencies. Year to date, it has dropped by several percent since January 1, 2024. And this is against the background of a bull market, which should greatly confuse investors.
Will Cardano (ADA) be able to strengthen its position in the top 10 cryptocurrencies?
Bulls' hopes may be tied to the approaching Chang update (expected in the second quarter of 2024), which will implement the concept of a self-governing community on the blockchain by introducing delegate representatives (DReps) and community voting to approve the first draft of the Cardano Constitution.
Technical analysis of the ADA/USD chart today shows more bearish signals:
→ the price of ADA/USD moves within the ascending channel;
→ the important level USD 0.6800 again acts as resistance (as shown by the arrows);
→ the price tried to push off from the lower border of the channel, but was unable to gain a foothold above the psychological level of USD 0.6000.
The level of USD 0.5700, reinforced by the lower border of the channel, acts as the most important support in such a situation - its breakdown will open the way to the psychological level of 0.5000 and the minimum of the year in the area of 0.4500.
Given the failure of the ADA/USD price to follow trends in the cryptocurrency bull market in early 2024, such a scenario looks likely.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules respectively. They are not available for trading by Retail clients.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
ADA/USD Hitting Targets and Riding the RollercoasterAlright, fellow traders, let's dive into the wild world of ADA/USD trading with a splash of humor! So, last time we checked, we were hitting those TP targets like a boss – just in time for the previous bull cycle to say "See ya later!" and take a nosedive below $1.00. Classic crypto, am I right?
But fear not, my friends, because after some serious structure review and fib level analysis (because who doesn't love a good fib?), we stumbled upon another harmonics pattern. And guess what? It's pointing us straight down to our middle leg, converging with some juicy fib levels and previous structure at that sweet ~$0.40 level. Keep those lower timeframes in check though, because we need that confirmation that it's playing nice as support.
Now, let's talk targets. We're eyeing that $1.00 mark, and if we break through and treat it like the VIP it is, well, hello there, previous ATH! Feeling ambitious? How about shooting for the stars with that 127 fib level, sitting pretty at ~$6.00. Aim high, my friends – the sky's the limit!
Oh, and before I forget, let's give a shoutout to those ADA fundamentals. Because let's be real, in the crazy world of crypto, they matter more than you think.
Remember, it's all about probability – no trading advice here, just a friendly reminder to play it safe and embrace that dollar-cost averaging life. And hey, maybe investing is the way to go – less stress, more chill.
Here's to riding the ADA wave with a smile on our faces and a whole lot of memes in our hearts. Good luck out there, traders!
Keywords: ADA/USD, trading analysis, crypto humor, hitting targets, bull cycle, harmonics pattern, fib levels, support levels, resistance levels, trading advice, dollar-cost averaging, investing, ADA fundamentals, ambitious targets,
Get Ready to Ride the Cardano (ADA) Rocket to the Moon!Folks, if you're not hyped about Cardano (ADA) yet, you should be! This isn't just another cryptocurrency—it's a rocket ship headed straight for the moon! With revolutionary technology, exciting upgrades, and charts that look like a rollercoaster ride of awesomeness, ADA is poised for liftoff! Buckle up, hold onto your hats, and get ready for the ride of a lifetime with Cardano! 🚀🌕