ADA.USDT (Y20.P3.E5.v2).Looking for the next long
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Hi All,
*** This is a continuation of the previous post, link provided below. ***
Note: Log settings are not enabled on this chart.
I have come across the LIVERMORE Speculative Chart just today and it seems many of the ALTs are doing this in some form or fashion.
I have yet to spend much time on learning all the details to this strategy.
So my first attempt is on ADA.
The LIVERMORE base structure starts off with a accumulation cylinder with a widening mouth, just like ADA here.
The 1,2, 3, 4,5 ,6, 7 what I understand usually aligns with the Elliot impulse with 6,7 corresponding to a ABC correction.
So I have given the background to this approach and now its now a matter of waiting for a bullish reversal to jump in, if this is to be true.
Lets see if I have interpreted this correctly.
- I have both indicators over into the reversal area of the stochastic, phoeix and RSI indicators on the daily;
- I have price action on a trend line (support) as well as a fib level;
If ADA is to do what is on this post, then its likely BTC will be defended here and no new lower lows.
ADA might wick down a little lower with a acceptable deviation for this chart structure to work or be true. So might BTC.
Below is a high level overview which I believe could align with the Livermore strategy.
Regards,
S.Sari
Overview with key levels on the fib as resistance which also equate to targets.
Aligns well with this strategy, if its true.
PREVIOUS POST to this topic
*** This is a continuation of the previous post, link provided below. ***
Note: Log settings are not enabled on this chart.
I have come across the LIVERMORE Speculative Chart just today and it seems many of the ALTs are doing this in some form or fashion.
I have yet to spend much time on learning all the details to this strategy.
So my first attempt is on ADA.
The LIVERMORE base structure starts off with a accumulation cylinder with a widening mouth, just like ADA here.
The 1,2, 3, 4,5 ,6, 7 what I understand usually aligns with the Elliot impulse with 6,7 corresponding to a ABC correction.
So I have given the background to this approach and now its now a matter of waiting for a bullish reversal to jump in, if this is to be true.
Lets see if I have interpreted this correctly.
- I have both indicators over into the reversal area of the stochastic, phoeix and RSI indicators on the daily;
- I have price action on a trend line (support) as well as a fib level;
If ADA is to do what is on this post, then its likely BTC will be defended here and no new lower lows.
ADA might wick down a little lower with a acceptable deviation for this chart structure to work or be true. So might BTC.
Below is a high level overview which I believe could align with the Livermore strategy.
Regards,
S.Sari
Overview with key levels on the fib as resistance which also equate to targets.
Aligns well with this strategy, if its true.
PREVIOUS POST to this topic
ノート
Here makes sense. If it drops more, then I would dismiss this post and look to learn where I went wrong.ノート
注文をキャンセル
I believe after reviewing this again, and also applying the inverted BARR method, I had the chart wrongly defined by the Livermore method. Here is the corrected version and hence at the MACRO level, Ada is not looking good.ノート
Confirmation of this structure is with price dropping below point 13.ノート
keeping an eye on ADA
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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