Cardano: Amazing Market for Good Profit
If we talk about interesting coins that can give good profit in the medium and long term, Cardano definitely must be in this list.
The price has been moving sideways between 1$ and 1.5$ for several months. We could open long positions using reversal setups from 1$ support and fix profit at 1.5$ resistance or build long-term positions for higher targets. Swing trading allowed us to gain some profit. As for long-term trades, we had to expect a breakout above 1.5$ resistance and a new upward movement.
As you can see, the price broke the resistance, and it gives us a strong bullish signal in the direction of the main trend. Long positions opened from 1$ support give good profit. It makes sense to add a little bit more volume to the active trades. MACD and RSI confirm the further upward movement. I would use round numbers as 2$ and 3$ as reachable profit targets for my position trades. Also, I would use the hourly timeframes in combination with bullish setups for swing trading.
The master stop order is below 1$ support. Risk trade must be no more than 5% of the capital.
What do you think about such a trading plan for Cardano? Share your thought in the comments.
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.
The price has been moving sideways between 1$ and 1.5$ for several months. We could open long positions using reversal setups from 1$ support and fix profit at 1.5$ resistance or build long-term positions for higher targets. Swing trading allowed us to gain some profit. As for long-term trades, we had to expect a breakout above 1.5$ resistance and a new upward movement.
As you can see, the price broke the resistance, and it gives us a strong bullish signal in the direction of the main trend. Long positions opened from 1$ support give good profit. It makes sense to add a little bit more volume to the active trades. MACD and RSI confirm the further upward movement. I would use round numbers as 2$ and 3$ as reachable profit targets for my position trades. Also, I would use the hourly timeframes in combination with bullish setups for swing trading.
The master stop order is below 1$ support. Risk trade must be no more than 5% of the capital.
What do you think about such a trading plan for Cardano? Share your thought in the comments.
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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