✴️ Cardano Adam & Eve | Waiting For A Confirmation (Buy & Hold)

6 Okt 2023

Many Altcoins have been producing the Adam & Eve pattern, a bottom formation.
And many of these patterns have been successful at predicting a reversal, the level accuracy has been high.

And thus it is really positive to see this pattern here on the ADAUSD (Cardano) chart.

First, it is all about the support level; Is the low/bottom in?
That's all that needs to be confirmed to know that things will change.

We do get confirmation and the low is in, great.
The higher low in September vs June confirms the low is in.
With this it would be enough for us to say, with a high level of accuracy, that the next major move is up.

Instead we forget about the initial confirmation we needed and move on to the next... ADAUSD is trading daily above EMA21 and EMA10 but what about EMA50? It needs to be above EMA50 to be bullish right?

Yes, this confirmation also comes in but we still don't know, supposedly... And now we are waiting for a strong big candle supported by high volume to say that prices are truly going up.

We have multiple confirmations, other pairs are already moving strong...
We have all we need based on technical analysis to buy and hold.

ADA breaks bullish and yet we continue to wait... The confirmation is in for sure now, let's wait for the correction to enter, we need a retrace for a good entry before we can move ahead... And then it goes up and up and up... You missed the train!

What happened?
You forgot that the market can go either down or up.
All you have to do is buy and hold.

➖ If the last low breaks down, close the trade at loss.
➖ If the pair grows, that's a winner, collect profits on the way up.

You end up with very low risk and high potential for rewarded.

The confirmation is already in, you can't win them all.

Namaste.