Foreign Out of the triangle so we broke this Triangle we identified to the upside it Is not enough for me to really talk About a sustainable breakout as you can See we currently got rejected at this Wave e High the previous video we talked About the possibility of having put in An e-wave high already in that we can Count this entire move as a wave four Triangle which would eventually make one More lower low now we see here a few Green candles it's not enough to get Excited about it yet Um primary expectation would still be Now down nothing has changed I told you Before that to reconsider something much More bullish I would want to see a move Above the Yeah so the 40 41 send range at the Moment this could very well just be Um that we put a deeper Wave 4 in or That the triangle is just getting Extended in fact even now the triangle Hasn't even been invalidated or anything Um we've only hit resistance so this can All still just be triangle no problem Yeah um so what is the road map now so There's two main possible well three Possibilities now let's say this was Just a sort of a fake art which happens Um and we haven't moved above any key Resistance so it could be that after the Wave e what you normally expect is a
Break to the downside so it could very Well be that this is a one two we're now Coming down in three four five and put That last wave in okay Um Of wave three five of three Um and then we would still be see a four And a five at least you know there's Different options I did discuss that in The previous video Um but what you are looking for here is A breakout or confirmation of this yeah And you only get this sort of Confirmation if you break below the wave D low because only a move below the low Of the wave D which is here at 31.8 Cents would indicate that would be the First indication the triangle is going To break to the downside the Confirmation would be a break below the B wave low 31.5 cents Um Can it move higher surely can but the Breakout Point here the initial one Would be the 33.2 Cent level what would That mean would that be bullish no at Least not yet because well it couldn't Be the yellow count anymore I'll leave It on the chart for now but it couldn't Be the yellow card anymore what would Happen My first view would be that it is still The wave e okay and a very nice Three-way structure then this needs to Stay below the 34.5 level
If it breaks above that then I will not Really believe in a triangle anymore Then I'm going to think we are we're Putting this you know the first chart That I actually did put onto here onto Um or the first idea that I put onto the Chart here which was one second which Was just a deeper waveform Um and we talked here about a possible Wave count of from that wave three low That we moved up in a wave Oops Obviously just sort out internet here on Second Should be back in a minute yeah there You go some reason So if we select it again just let the Chart refresh And there you go so that we had from the Low here and move up in an a wave we Came down in a b and we would be waiting For a c wave to the upside This is still possible Um in maybe here an A B and then a one Two one two and we'd be now moving up in A way three of the C wave and that would Finish off the wave four yeah and then We come down so really until we get Above I mean what you know when can we Consider something more bullish it would Really not above until we get above the Let's say the um yeah 41 and a half cent Level somewhere in that range there's a Few levels up there around the 41 Cent
Pie but we're far away from that Um we have come down low there's 20 no Reversal signal this could still be a Triangle 33 level is resistance or 33.2 That we've got 34.5 and then a very Significant one will be the wave a high At 38 cents so really until we break Above Um or you know each of these levels will Lead us to the next one and then the 38 Cent level is obviously a very relevant One that significant swing high That would be increasingly important to Get above that if we want to consider Something more bullish but Until we get there there is still a lot Of downset pressure on the chart now Obviously we see the technicals the Indicators moving higher they're pushing Um four hour chart is not yet about 50 On the RSI that would be important but The momentum is pushing at the moment Yeah we might even get a bullish cross Over here so yeah we could finally get That smaller upside but it would the Indication would be that this is still In a in a fourth wave Um because nothing too convincing has Occurred yet this year was Um in my opinion the most likely to know That we still see here lower prices for Ada Um but we have come down you know that Much that we don't need to go any lower
I did discussed it as well in previous Videos we don't need to go any lower but Primary expectation has to remain Further lower lows for Ada because Um the chart structure which is Suggested Um especially here this sort of Consolidation over the last few days Rather suggests just consolidation in an Overall downtrend still but yeah I keep My eyes open for you to to identify Possible bullish patterns but for Ada You know I'm not convinced really not Convinced yet okay and that's my update About ADA I hope you like the update if You did please hit the like button leave A comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye Foreign