ADA Exchange Trading 21-12-12

Dec 13, 2021

I am using the Daily chart because the Hourly does not give a good picture. Price is currently back in the Daily 78.6% zone. It is falling again so the entry may be found on the lower time frames. Look at the M30 or M15 for a good entry. Price went past the 88.6% level and then came back into the zone, went pretty high up into the zone but did not make a new Higher High (HH) we only have Lower Highs (LH). I am still waiting for that entry around $1.00 where the Drop-Base-Rally is to the left. Unless price does not create a new Lower Low around 1.15 or 1.10 and then comes out of the 78.6% zone. Then I would take an entry around 1.50 as price came out of the zone with a strong engulfing candle.

Additionally, the stoch looks overbought so price should continue to fall until we see an oversold condition.