Long Entry - RSI and EMA's Trending Bullish on 1 HR, 4 HR, Daily
Hello Money Makers!
I'm going long on Cardano here at $0.1486
Entry Price: $0.1486
Stop loss: $0.13
Target: Let's see if Bitcoin can bounce. If so then we'll ride this till we see bearish divergence.
Chart: 1 hour, 4 hour and Daily
RSI: Clearly becoming bullish on both the Daily and 4 hour Chat. Making higher lows and higher highs (see yellow lines in chart)
EMA's: On the one hour chart we have just seen the 8,13 and 21 EMA's cross above the 55 EMA. I believe the same scenario will play out on the 4 hour EMA's soon. We have gotten closes above all 4 trend lines in each of the last 6 hours on the one hour chart. This is confirming strength.
I'm going long on Cardano here at $0.1486
Entry Price: $0.1486
Stop loss: $0.13
Target: Let's see if Bitcoin can bounce. If so then we'll ride this till we see bearish divergence.
Chart: 1 hour, 4 hour and Daily
RSI: Clearly becoming bullish on both the Daily and 4 hour Chat. Making higher lows and higher highs (see yellow lines in chart)
EMA's: On the one hour chart we have just seen the 8,13 and 21 EMA's cross above the 55 EMA. I believe the same scenario will play out on the 4 hour EMA's soon. We have gotten closes above all 4 trend lines in each of the last 6 hours on the one hour chart. This is confirming strength.
Trade active:
Cardano is moving up nicely now.
Daily Chart: RSI has a fantastic upward trend to it. Plenty of room to run here
4 Hour Chart: As I mentioned in the above trade idea, it looked like the 8,13 and 21 EMA's were set to cross above the 55 EMA. This is now occuring on the 4 hour chart. A very bullish sign
I've put up a sell order at 0.17 cents just incase someone scoops up a bunch of ADA, we would lock in a nice 14% trade. But I will pull that sell order if we get close and things still look positive.
Daily Chart: RSI has a fantastic upward trend to it. Plenty of room to run here
4 Hour Chart: As I mentioned in the above trade idea, it looked like the 8,13 and 21 EMA's were set to cross above the 55 EMA. This is now occuring on the 4 hour chart. A very bullish sign
I've put up a sell order at 0.17 cents just incase someone scoops up a bunch of ADA, we would lock in a nice 14% trade. But I will pull that sell order if we get close and things still look positive.
Trade closed manually:
Looked like we were headed for a nice 10-15% profit in this trade until Bitcoin tanked yesterday and took all the altcoins with it.
The situation changed cause of this so I decided to sell my position for a break even trade.
I will revisit Cardanao again once we can confirm a positive reversal in Bitcoin.
This will give us an even better chance to have an even more profitable trade next time, as maybe we can buy ADA back at even lower prices for an even more powerful move
The situation changed cause of this so I decided to sell my position for a break even trade.
I will revisit Cardanao again once we can confirm a positive reversal in Bitcoin.
This will give us an even better chance to have an even more profitable trade next time, as maybe we can buy ADA back at even lower prices for an even more powerful move