ADAUSD- SHORT ( from top of a parallel channel)

ADAUSD

ADA is in an ascending channel and now sitting below the trendline resistance; In consideration of the

Fibonacci retracements from the prior uptrend, on the chart I can see the first potential target of 0.47335

which would represent a profit of about 5% in the short trade over perhaps 3 days. A stop loss of 0. 006

above the entry would yield a reasonable reward for that risk.

Trade closed: target reached:

ADAUSD hit target now reversing to upside in the channel taking a long trade with
profits from the short.