ADAUSD crossed over the MA200 (1d). Buy signal.

١٣ يوليو ٢٠٢٣

ADAUSD crossed over the MA200 (1d) after 5 weeks under it.
The main pattern is a Channel Down and the last time the MA200 broke after a bottom, made the price peak near the 1.382 Fibonacci level.

Trading Plan:
1. Buy on the current market price.

Targets:
1. 0.44000 (under the MA200 1d).

Tips:
1. The RSI (1d) is overbought. The other two times it reached that level this year, one was at the start of an uptrend (straight after crossing above the MA50 1d) and the other at the end of the uptrend (but the MA50 1d has been broken much earlier). This time the MA50 (1d) just broke today, so it is more likely that we are still at the start of the uptrend.

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