ADA/BTC - CARDANO BREAK OUT WINDOW IS HERE
CARDANO -
ADA
/ BTC
On Nov 1st I advised the following:
✅ A breakout in the window between 20th Nov - 29th Jan (could be shortened to the 8th Jan now).
✅ Bull trend confirmation = break above 50 SMA
✅Great risk/reward with stop under diagonal support
Folks this could be the beginning of a long running upward move.
A close above the 200 DSMA is confirmed and we are on the verge of a close above the 50 week SMA with this large 20% + move that ADA made today.
If you were following me here or on TradingView you would have a position in place already that is in profit and with a tight stop under strong support protecting you against the downside. Early November I provided this chart and outlook because a window of opportunity was close.
As a long term patient play ADA is still very much an option for new entries. Pull backs to the 200 DSMA or green zone are the most ideal entries, however as we are entering into the "breakout window" and we appear to be breaking out. If you do enter, always, always, always decide on and have a defined stop/get out level and stick too it. Write it down on the chart or a notepad. Stick to it. Protect yourself.
For those in the trade since we shared, we are 40%+ in profit thanks to a little patience and good timing, and this is only the beginning of this trade. Don't let idle hands make you trigger happy, the trend might be upon us, don't pull the rug on your position as things are only starting to trend.
PUKA
ADA
/ BTC On Nov 1st I advised the following:
✅ A breakout in the window between 20th Nov - 29th Jan (could be shortened to the 8th Jan now).
✅ Bull trend confirmation = break above 50 SMA
✅Great risk/reward with stop under diagonal support
Folks this could be the beginning of a long running upward move.
A close above the 200 DSMA is confirmed and we are on the verge of a close above the 50 week SMA with this large 20% + move that ADA made today.
If you were following me here or on TradingView you would have a position in place already that is in profit and with a tight stop under strong support protecting you against the downside. Early November I provided this chart and outlook because a window of opportunity was close.
As a long term patient play ADA is still very much an option for new entries. Pull backs to the 200 DSMA or green zone are the most ideal entries, however as we are entering into the "breakout window" and we appear to be breaking out. If you do enter, always, always, always decide on and have a defined stop/get out level and stick too it. Write it down on the chart or a notepad. Stick to it. Protect yourself.
For those in the trade since we shared, we are 40%+ in profit thanks to a little patience and good timing, and this is only the beginning of this trade. Don't let idle hands make you trigger happy, the trend might be upon us, don't pull the rug on your position as things are only starting to trend.
PUKA
Comment:
Guys this could be the last time we are in the buy zone.... This is make or break now. ADA has had a slow start but it always lags.
We have a diagonal support line (as an initial warning if lost).
We are at the latter end of the break out window.
We are above the 200 day moving average and its starting to slope upwards.
THis is an opportunity for a long term position and you can safely place stops to your pleasing at diagonal support (dashed line), the 200 day or the bottom of the long term diagonal support (purple).
We have a diagonal support line (as an initial warning if lost).
We are at the latter end of the break out window.
We are above the 200 day moving average and its starting to slope upwards.
THis is an opportunity for a long term position and you can safely place stops to your pleasing at diagonal support (dashed line), the 200 day or the bottom of the long term diagonal support (purple).
I had a few requests for an update here.
Most Importantly, as noted on the prior share this is a long term hold from the green zone to the over head red zone. My position will be held until 200 DSMA is broken.
For the shorter term traders:
Ideal Buy Zones
- Green Area (requires patience)
- Bounce from 200 Day SMA (requires patience)
For a more immediate Initial small entry, Diagonal Support (see purple line on chart) could be considered with a tight stop placed 5% thereunder.
Ideally the Diagonal Support Line Holds however as a long term holder the 200DSMA is my cut off.
Please review below chart for the full long term view
PUKA