ADAUSDADA is in an ascending channel and now sitting below the trendline resistance; In consideration of the
Fibonacci retracements from the prior uptrend, on the chart I can see the first potential target of 0.47335
which would represent a profit of about 5% in the short trade over perhaps 3 days. A stop loss of 0. 006
above the entry would yield a reasonable reward for that risk.
Trade closed: target reached
ADAUSD hit target now reversing to upside in the channel taking a long trade withprofits from the short.
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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.