Short idea for ADA - descending channel (1D/1H)

2022年1月16日

I would like to share this short idea for ADA. It's moving in a tdescending channel, so now there is a high probability that the price will go down, as it bounced back from the resistance. The RSI and MACD indicators are also confirming the predicted move.

Trend: downtrend (20 EMA < 50 EMA < 200 EMA on the dailychart)

Nice and easy trading opportunity.

Entry level: if price goes below 1.394

SL/TP levels are shown on the Short position drawing.

Good luck!

2022年1月17日

交易结束：到达止损

-2.39%

Lesson learned: I should put the entry level at 1.38 according to the previous 2:00 PM red candle.