BTCUSD: Current Cardano Analysis Thursday May 12 2022
Hi Everyone! The Red Line in the 6-hour and 8-hour have a lot of work to do in order for the Red Line to rise above White Level 30; to increase odds of going up from white lower b-band to the yellow b-band basis (20-Moving Average). This must mean the White Lower B-Band will continue to act as resistance in the 6-hour and 8-hour until the Red Line can get on the verge of going above white Level 30 in those time frames.
We still have potential to continue down more. We cannot rule that out. I'm not providing scalp signals here on TradingView. In regard to a SWING signal. Your signal to consider a swing HIGH to a higher trading range would be your Red Line in the 8-hour, 12-hour and 24-hour being lined up to go up to or above White Level 30 in those time frames. That would indicate an opportunity for the price action to go up from the white lower b-band to the yellow b-band basis in those time frames. Well, the percentage spread between the white upper and white lower b-bands would give you an indication if the percentage move up to the yellow b-band basis would be enough reward for the risk you are willing to take at that time; if any.
Hope this was helpful.
Happy Trading and Stay Awesome!
David
We still have potential to continue down more. We cannot rule that out. I'm not providing scalp signals here on TradingView. In regard to a SWING signal. Your signal to consider a swing HIGH to a higher trading range would be your Red Line in the 8-hour, 12-hour and 24-hour being lined up to go up to or above White Level 30 in those time frames. That would indicate an opportunity for the price action to go up from the white lower b-band to the yellow b-band basis in those time frames. Well, the percentage spread between the white upper and white lower b-bands would give you an indication if the percentage move up to the yellow b-band basis would be enough reward for the risk you are willing to take at that time; if any.
Hope this was helpful.
Happy Trading and Stay Awesome!
David
Comment:
MY BAD: I mistakenly called this BTCUSD in the title when it is ADAUSD. MY BAD...
Comment:
UPDATE:
Looks like we are going up to the yellow b-band basis in 4-hour at $30,100. With potential to eventually go up to the white/aqua upper b-band in the 4-hour time frame.
Looks like we are going up to the yellow b-band basis in 4-hour at $30,100. With potential to eventually go up to the white/aqua upper b-band in the 4-hour time frame.
Comment:
UPDATE:
3-hour time frame:
Red Line above Level 50 and Blue Line above Level 30 increases odds to
continue higher to white/aqua upper b-bands between $0.60 and $0.65
3-hour time frame:
Red Line above Level 50 and Blue Line above Level 30 increases odds to
continue higher to white/aqua upper b-bands between $0.60 and $0.65
Comment:
UPDATE:
Pointing out we went up to the white upper b-band where we SHOULD have taken profit on a scalp.
Pointing out we went up to the white upper b-band where we SHOULD have taken profit on a scalp.