ADA update
2024-11-02

hello to everybody and hope you are doing well.
today we have a potential short setup for ADA and new analysis.
as you guys can see and shown in the chart the bias(the higher time frame order flow) is bearish and after days of ranging and pulling back that M15 and bias finally realigned and this means that the price is finally pulled back and is ready to take us lower potentially.
the M15 trend that you see is in a 4H supply right now and the red and green marks are the swing points that I marked for a better view of the market structure.
after tapping into the 4H supply the market slightly taped into it and it means it can potentially go back to it one more time first to sweep it and second to gather more orders at least in the 50% of the zone.
in the big picture, there were lots of high liquidity pools that the price swept on its way to this 4H supply.
so after mitigation and breaking the structure of M15, it was confirmed for me that the price is about to make its move and I opened a short position targeting the lows on the downside and stop loss slightly above the strong high.
so this is a very high-quality trade and hopefully, the price tags us in and potentially see a sell-off to the downside .
remember to manage your risk and avoid over-leveraging.
thank you for reading and bb.





