Cardano (ADA) Bullish Ascending Triangle, 5.11 R/L Ratio

Cardano is currently in an ascending triangle, & we have bullish divergence on the 1 day chart. This could be a promising long trade. Get in before the breakout and before the bounce from the trendline, don't pay retail.

Buy in:
1828 satoshis

Sell target:
1875 satoshis

Stop loss:
1820 (Max of 0.43% loss)

Or you can avoid selling if you believe the breakout is imminent. Keep in mind it will not follow the triangle exactly and may go sideways. Long as we have higher highs and the same resistance I will remain bullish. This pattern works well in crypto. Risk to reward is over 5, but will probably not follow the trading plan exactly, so should be used as a reference.

Thanks for viewing. Leave your thoughts below, I will respond to all of them.

Commento:

Look at how this pattern played out on IOTA yesterday. Textbook

Commento:

1941 sats should be the target if we do break out.

Commento:

Trade chiuso: stop raggiunto:

Stopped for now. Risk is too high. I closed at 1828 which was my entry. BTC drop caused this.

Commento:

This trade can recover if btc finds support somewhere.

Commento:

Going to wait for a few more candlesticks to see what will happen.

Commento:

Support still here, rebought some at 1832.

Commento:

Bitcoin went up and ADA blasted off. Nobody can really predict these events.

Trade chiuso: stop raggiunto:

I ended up selling my position for a 1% loss.