ADA/USD Trading Strategy: The current structure of ADAUSD shows a correction in Corrective Wave II with a chance of falling
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave C
Direction next higher degrees:
Wave cancel invalid level:
ADA/USD Trading Strategy: The current structure of ADAUSD shows a correction in Corrective Wave II with a chance of falling to the important support level around 0.53 USD – 0.32 USD. Investors should follow the reversal signals from both the wave structure and indicators before deciding to enter a position.
Trading strategies
Buy strategy (Long Position):
- You should wait for the price to drop to the Wave C target near the 0.53 USD support or until the price structure is complete and the RSI starts showing reversal signals.
Risk management:
- If the price moves below the W.C. Invalid support (0.32 USD), you should exit the position immediately to reduce your risk.
ADA/USD one-day chart
ADA/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave C.
ADA/USD trading strategy: The current structure of ADAUSD shows a correction in Corrective Wave II with a chance of falling to the important support level around 0.53 USD – 0.32 USD. Investors should follow the reversal signals from both the wave structure and indicators before deciding to enter a position.
Trading strategies
Buy strategy (Long position):
- You should wait for the price to drop to the Wave C target near the 0.53 USD support or until the price structure is complete and the RSI starts showing reversal signals.
Risk management:
- If the price moves below the W.C. Invalid support (0.32 USD), you should exit the position immediately to reduce your risk.
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