Possible short-term range formation after a strong ADA move downward from $0.42 that began in late April.
Range extremes are at $0.373 and $0.348. The range highs coincide with a bearish OB as well.
A sweep of liquidity just above $0.375 was a possibility that bears must be careful of.
Entry: $0.369 (aggressive, more cautious traders can wait for rejection from $0.373)
Take-profit: $0.349 (just above range lows)
Stop-loss: $0.3777 (a wider stop-loss at $0.38 can also be considered)
R:R- 2.45
Range extremes are at $0.373 and $0.348. The range highs coincide with a bearish OB as well.
A sweep of liquidity just above $0.375 was a possibility that bears must be careful of.
Entry: $0.369 (aggressive, more cautious traders can wait for rejection from $0.373)
Take-profit: $0.349 (just above range lows)
Stop-loss: $0.3777 (a wider stop-loss at $0.38 can also be considered)
R:R- 2.45
Note
while rejected from range highs, the bulls defended the mid-range mark well
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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.