saqibzada
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Bullish
$ADA Here's a hypothetical trade plan for Cardano (ADA):
Trade Plan:
*Long Position:*
1. *Entry:* Buy ADA when it breaks above $0.40.
2. *Stop Loss:* Set a stop loss at $0.35.
3. *Take Profit:* Take profit at $0.50.
4. *Risk-Reward Ratio:* 1:2 (risking $0.05 to potentially gain $0.10).
*Short Position:*
1. *Entry:* Sell ADA when it breaks below $0.35.
2. *Stop Loss:* Set a stop loss at $0.40.
3. *Take Profit:* Take profit at $0.25.
4. *Risk-Reward Ratio:* 1:2 (risking $0.05 to potentially gain $0.10).
Technical Analysis:
- *Support:* $0.35, $0.25
- *Resistance:* $0.40, $0.50
- *Moving Averages:* 50-day MA is above the 200-day MA, indicating a bullish trend.
- *RSI:* 50 (neutral)
Trade Plan:
*Long Position:*
1. *Entry:* Buy ADA when it breaks above $0.40.
2. *Stop Loss:* Set a stop loss at $0.35.
3. *Take Profit:* Take profit at $0.50.
4. *Risk-Reward Ratio:* 1:2 (risking $0.05 to potentially gain $0.10).
*Short Position:*
1. *Entry:* Sell ADA when it breaks below $0.35.
2. *Stop Loss:* Set a stop loss at $0.40.
3. *Take Profit:* Take profit at $0.25.
4. *Risk-Reward Ratio:* 1:2 (risking $0.05 to potentially gain $0.10).
Technical Analysis:
- *Support:* $0.35, $0.25
- *Resistance:* $0.40, $0.50
- *Moving Averages:* 50-day MA is above the 200-day MA, indicating a bullish trend.
- *RSI:* 50 (neutral)
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