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Ada reversal fomo (1R)

업데이트됨

I generally have a bearish bias and plan to trail this long on the way down for the case the trend reverses.

My hypothesis:
I will trade this setup. It will only get triggered if some important resistances are broken:
o The resistance from the upwards channel
o Upper Bollinger Band

Target:
o I'll take some profit at the rectangle resistance from a sharp move down

Stop-loss:
o Below the major downtrend of the lower lows from 1D TF
o Below the support of the uptrend channel
o Below the lower BB
o Once the setup has been triggered a better stop-loss might have been appeared. I'll use this one then.

Position size:
10% of my portfolio which is 50% of my planned position size for ADA.

Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.

Your feedback is welcome!:
Please tell me your opinions as I'm looking forward to other views on my trade idea in the comments and please click thumbs up if you like id.

노트

This trade is invalidated as ADA wildly moved through the upper resistance of the channel without the resistance switching to support. I think this was mainly because of the CBOE futures expiration.
My new hypothesis is that upper resistance turned into support anyways and will move up from there. This is why I move my stop-loss up. The new trade will be invalidated if the new support doesn't hold.

노트

Moving my stop loss up to the point directly below the order block (small bodied candle leading to a sharp move up).
My hypothesis is, that the price moves up along the yellow dashed diagonal support line. If it continues to do so I'll continue to trail my stop loss up until the micro trend reverses.

노트

Bitcoin is in a smaller uptrend and has a bit of room until the next resistance. This should push ADA a bit as well. I'm curious about how BTC will react on that resistance as I expect ADA to follow that path.