Long-Term Trade 120% Potential No Leverage

29 thg 1

TLDR:
ADA finished its correction.
The target for the next impulse is between 1.17 and 1.25 Dollars.
Background:
Between ADA October 18th and December 12th, 2023, ADA’s price rose 186% to 68 cents.
Following this impulsive PA, ADA entered a correction that lasted 42 days with an overall correction of 35%.
The proportion between the impulse and the correction from the time and price perspectives is ideal.



ChoCh:
ADA is about to cross above the 52-cent level, the last LH. If ADA crosses above the 52-cent level and retests it as support, I will consider it a bullish ChoCh and an early indication that the trend will likely change to an uptrend.



S/R Levels:
Resistance: 0.62, 0.68, 78-90, 1.25



Targets:
The 1:1 extension is the Minimum Target. However, I expect ADA to achieve the 1.618 extension at least because I consider this a wave 3.

Trade Idea:
Entry: 0.52
SL: 0.48
Target: 1.15
TP: 0.68, 0.78, 0.90, 1, 1.15
R: R: 1: 4.23 to first TP

NFA
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Best Wishes