Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market.
Looking for a sell stop entry at 0.3820, where the recent minor low is to ride the bearish momentum. Stop loss will be at 0.4137, where the recent high is. Take profit will be at 0.3294, where the overlap support is.
Trading Recommendation
Entry: 0.3820
Reason for Entry: Recent minor low is to ride the bearish momentum
Take Profit:0.3294
Reason for Take Profit: Overlap support
Stop Loss: 0.4137
Reason for Stop Loss:
Recent high
