Cardano (ADA/USD) Long Breakout Setup
This is a long (buy) setup for Cardano (ADA/USD) based on a breakout from a descending channel. The price has broken above the resistance trendline, indicating a potential bullish continuation.
Entry Point:
Around the breakout level, confirming support above the descending channel.
Stop Loss:
Placed below the breakout point at $0.90498, minimizing risk if the breakout fails.
Take Profit 1 (TP1):
$1.15004, where price may face initial resistance.
Take Profit 2 (TP2):
$1.30188, a stronger resistance level that could serve as an extended target.
Trade Rationale:
A breakout from the descending channel signals a trend reversal.
Moving averages are turning upwards, supporting bullish momentum.
The risk-to-reward ratio is favorable, with clear entry, stop-loss, and take-profit levels.
Volume increase on breakout adds confidence to the trade.
Entry Point:
Around the breakout level, confirming support above the descending channel.
Stop Loss:
Placed below the breakout point at $0.90498, minimizing risk if the breakout fails.
Take Profit 1 (TP1):
$1.15004, where price may face initial resistance.
Take Profit 2 (TP2):
$1.30188, a stronger resistance level that could serve as an extended target.
Trade Rationale:
A breakout from the descending channel signals a trend reversal.
Moving averages are turning upwards, supporting bullish momentum.
The risk-to-reward ratio is favorable, with clear entry, stop-loss, and take-profit levels.
Volume increase on breakout adds confidence to the trade.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.