Analyzing ADAUSDT on a 4H timeframe

Hello guys,
It's another day of the week and I'm delighted to share with you all my recent analysis on ADAUSDT and the results that I have obtained so far.

Indeed we are already in the anticipated bull run. Many will be waiting for the year 2024 but the real deal has started already. Given this, I request everyone to put their eyes on the market and make some profits.

I haven't been trading live trading recently because I lost some money to trading before this time and I felt it would be wise to work on myself by learning and studying my strategies more perfectly.

This is the main reason I use demo trades at the moment to see how effective my strategies can be. Let's go into the main work for today which is the analysis of the pair of ADAUSDT.

From the chart above, you will notice that the 4H candle closed bullish above the resistance level which became support. Seeing that, I knew that the market would continue moving in an upward direction because the closure was with a very strong bullish candle.

Aside from that, I also noticed that the indicator has not gotten to the overbought or oversold region and the blue line present in the indicator is above the orange 🍊 line which is a clear signal that the market will go in an upward direction.

Seeing that, I confirmed that I needed to enter a buy signal and that is when I introduced the buy logo as seen in the screenshot below.

From the above chart, I took proper risk management where I have my take profit at the next resistance level and my stop loss immediately below the last bullish candle. From the chart, the risk-reward ratio of that trade is around 1:4.

Indeed it's a perfect trade if the market goes as predicted. Since I would like to see how effective the market will be, I decided to enter a demo trade as you can see from the screenshot below.

The screenshot shows the trade-in process and the market after some hours of trading. I have already made some profits from the trade as you can see from the screenshot which simply means that the strategy is working like magic.

It's high time I look for money and begin a live trade because, over the last few days or weeks, I haven't done any analysis that didn't go in my favour. Hence I guess I'm ready to face the real market with a proper risk management strategy.

I will continue to share with you all my strategies the trades entered and the profit or loss made on the various trades so that you too can learn and earn. We are going to make it all together through trading hence if you have any questions or contributions, please use the comment section of this post.

Always remember that trading is like a meditation, patience is the key. Always wait for the market to come to you and not you going to the market and also always trade with the trend and avoid counter trading.

Disclaimer: ^{This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your research and consult a financial advisor.}