Cardano: How to Catch the Uptrend
The 4H chart gives us a buying opportunity in the direction of the main uptrend. But the trade looks very risky as Bitcoin doesn't look solid bullish and we are not far from the resistance zone.
Anyway, this is an example of a possible long position, which is based on a reversal signal from the support zone. This zone is formed by 0.12USD support level and SMA100. MACD histogram and RSI confirm the price reversal. MACD supports a possible upward movement.
How to trade?
Buy above 0.1225USD
Stop below 0.1150USD
Profit target at 0.1385USD
Risk per trade must be no more than 3-5% from the capital.
If the price drops below the support zone, we will be able to see a downward movement to 0.1000USD support.
If you think this information is helpful for you, please support my work by smashing the LIKE button. Any questions and for other feedback, please use comments below this post.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Anyway, this is an example of a possible long position, which is based on a reversal signal from the support zone. This zone is formed by 0.12USD support level and SMA100. MACD histogram and RSI confirm the price reversal. MACD supports a possible upward movement.
How to trade?
Buy above 0.1225USD
Stop below 0.1150USD
Profit target at 0.1385USD
Risk per trade must be no more than 3-5% from the capital.
If the price drops below the support zone, we will be able to see a downward movement to 0.1000USD support.
If you think this information is helpful for you, please support my work by smashing the LIKE button. Any questions and for other feedback, please use comments below this post.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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