ADAUSD | Wave Projection | Downtrend Double ZZ Channel Breakout
Ready for long entry: Price action and chart pattern long entry trading setup
> Elliott Wave double ZZ combination correction WXY with EMA200 as key dynamic resistance for major B-wave and EMA50 as key resistance for minor 2-wave and 4-wave
> Downtrend channel sideway breakout - possible sideway continuation
> Long entry @ EMA50 breakout
> TP @ EMA200 for medium term trade
> SL @ the lowest position wave 5
> RRR: 3:1
Indicator:
MACD bullish divergence golden cross signal line merely below 0
Always trade with affordable risk and respect your stoploss
> Elliott Wave double ZZ combination correction WXY with EMA200 as key dynamic resistance for major B-wave and EMA50 as key resistance for minor 2-wave and 4-wave
> Downtrend channel sideway breakout - possible sideway continuation
> Long entry @ EMA50 breakout
> TP @ EMA200 for medium term trade
> SL @ the lowest position wave 5
> RRR: 3:1
Indicator:
MACD bullish divergence golden cross signal line merely below 0
Always trade with affordable risk and respect your stoploss
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