Description :
Looking at the H4 chart, my overall bias for ADAUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. With price tapping into our buy entry at 0.3294, where the overlap support is, we are looking to take profit at 0.3808, where the overlap resistance is. Stop loss will be placed at 0.3067, where the support and 50% Fibonacci line is.
Trading Recommendation
Entry: 0.3294
Reason for Entry: Overlap support
Take Profit:0.3808
Reason for Take Profit: Overlap resistance
Stop Loss: 0.3067
Reason for Stop Loss:
Support inline with the 50% Fibonacci line
