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$ADAUSD Consolidation before next leg up?Quick update, performance not guaranteed & please DYOR. BINANCE:ADAUSD has - as I'm sure you've all seen - recently broken out of the trend upwards. Has found several resistances at $0.077 & $0.084 Some of these have been taken and flipped support, some of them are yet to be taken. The strategy ​here is to buy​ dips & breakouts. If it dips, buy. If it breaks out & succesfully ​flips R/S, buy. We're not done yet. Final resistance in this supply bloc is $0,084. Let's make some money. Good luck all, Jelle
BINANCE:ADAUSD
by CryptoJelleNL
A 100 pip short based on a support-to-resistance flipFirst of all, this is the ICT Breaker concept from ICT (Inner Circle Trader) on YouTube, all credit goes to him. I've outlined a nice example of this strategy in the chart. I use this a lot and it's really simple to understand and notice once you catch a few of them. I'd love to see you try to find more examples. Feel free to post them in the comments and we can discuss them! Things to look for: - Same concept applies for longs, but inverse. - The candle block you're using must precede a move that takes out a previous swing point (low or high). - If the price does retrace to that block as you expect, but starts consolidating and pushes back into it repeatedly, it could be a sign that it wants to move back through it. The market is sometimes tricky like that. Also, here's a bonus confluence factor - if you pull the fib retrace tool from the top to the bottom of the move, you can see that our block falls right between .62 and .79 fib levels. This is another good indicator to confirm your bias.
Education
by UnknownUnicorn3664665
4
Probable Demand ZoneEURUSD has been going through an extended complex pullback pattern on higher TFs. It seems another bear leg to 1.1175, the FIB 61.80% retracement level, is becoming a probable scenario. Selling short to 1.1175-1.1250, covering and flipping long is the potential setup. As always, managing risk is the most important part. Fractional risk of 1.5-3% approach is the default approach. The size of a trade decreases as the risked price range increases. In another words, trading higher TFs requires a longer wait and a smaller size. Extremely boring.
Short
by Zoen_Trieste