ADAUSD is forming Shark | A good long opportunity
After successful formation of a shark pattern the priceline of Cardano / US Dollar is forming another bullish Shark pattern and soon it will be entered in potential reversal zone to hit the sell targets insha Allah.
Volume profile of complete pattern is showing less interest of traders here.
But Stochastic is not oversold and strong bearish and MACD is strong bearish, therefore for secure trade I would suggest to wait for MACD to turn weak bearish or for bull cross signal from Stochastic then take the long position.
This PRZ area can be used as stop loss point in case the complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.043990 to 0.042961
Sell between: 0.044932 to 0.047016
Regards,
Atif Akbar (moon333)
Volume profile of complete pattern is showing less interest of traders here.
But Stochastic is not oversold and strong bearish and MACD is strong bearish, therefore for secure trade I would suggest to wait for MACD to turn weak bearish or for bull cross signal from Stochastic then take the long position.
This PRZ area can be used as stop loss point in case the complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.043990 to 0.042961
Sell between: 0.044932 to 0.047016
Regards,
Atif Akbar (moon333)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.