Foreign ERS continues here Um we it still doesn't give us much more Clarity I mean Ada really maxed out what It can do here to the downside in this Possible a b c structure actually I Would like to Um I need to change it it is actually to Be formally correct it needs to be a w x Y structure it could have been an um an ABC until yesterday but with its latest Step down it needs to be a w x y it Doesn't really make a difference at all But um You know it sort of did what it needs to Do in a wxy in the bullish Interpretation it could now really move Up from here only yesterday I made that Video and said this is deep in support So of course you could see a counter Reaction here I personally wouldn't Trade it but you you basically have a Decent reward to risk ratio here Um it might not work out because there Was a long or strong retracements are Very unreliable but you can set a stop Loss very tight Um and then we did rally today indeed And in the bullish interpretation we Could consider this to be a Wave 3 now a Wave one up a leading diagonal a wave Two to the downside and then possibly The wave three to the upside next However however
Um this is extremely extremely choppy It's not a very I'm not confident in This count Target for the third wave Here would be at least 35 cents Um and if we zoom in in the Buddhist Interpretation you know this could be a Wave one this could be a wave two and we Could now push higher yeah within this Third wave Um if this is a wave two you would Expect some kind of a three wave Retracement to be honest it could be Finished ABC but um there's no Indication it has bottomed yet and we've Come down to the 50 retracement this Could come down as much as 30.3 cents to Still be considered a wave 2 and then we Could move up in a small third wave I Can also give you a target for this Small third wave let's say we come down To 30.3 cents then the target would be 33.5 cents for this Wave 3 would take us Exactly whoops would take us exactly to The top of this um channel in which we Are yeah I wouldn't be surprised to get To that channel but is this really a Substantial breakout sustainable Breakout or not that's the question we Can really only Um verify that I think if we see those Five waves up here is complete then a Three wave structure down then if this Is now finally a proper impulse then Yeah you know then I would put more
Emphasis on a bullish count here but at The moment we haven't really seen a Proper impulse we've seen a leading Diagonal at Best in a possible bullish Count we've retraced more than it would Be ideal in this wave too and okay this Could not be a small first impulse but It's not confirmed yet because the Wireless currently holds the holding Support this is the small first impulse After this um three wave correction so I Mean it could be bullish right but it is Just not reliable yet and I want to see More evidence before confirming that the Bottom is in place here Um understand that the reward is at the Moment quite interesting compared to the Risk but um the entire count isn't high Confidence and I'm still as long as I Don't see more evidence that the bottom Could have been made here I'm going to Focus on the more reliable charts like Ethereum you know maybe chili's even We've got other ones like even um Optimism you know here this one isn't Moving at all really and it's just sort Of choppy sideways movement I'm still Leaning towards the yellow count here That would mean by primary a wave one to The downside this was a wave 2 Retracement then we move we're currently Moving down in wave three targets here Would be 27 cents there should be a wave Four and away five and within this way
Three obviously we've got sub waves as Well so this could be a wave one of Three we might now be coming up in wave Two of three and would come down yeah Um here we can see now the next wave up Should give us certainty here because if This really is a wave 2 to the upside Within a Wave 3 to the downside this Could be an ABC pattern and we should Only make three waves to the upside we Should not go above 32.8 cents if we get Above 32.8 cents That Swing High then Yeah and then we can lean a little bit More Um to a bullish count but the situation Continues to be that I'm skeptical of Any bullish count until I at least see a Move above 32.8 cents even then it could Be a larger bearish count and then it Also you know this larger bullish Pattern comes into place where I would Like to see five waves to the upside Three waves down the problem is that This move to the upside was not Impulsive it was only a leading diagonal How many leading diagonals have we seen Since June for example how many did work Out not many worked out so I'm extremely Skeptical wouldn't trust this at all Yes Again here short-term upside possible if Anybody wants to trade it but it's not High confidence so um there are better Trade setups out there in my opinion This is also not very volatile at the
Moment and volatility is where you earn Money at the moment I think Bitcoin Ethereum do some significant movements And at the moment but yeah Ada not Really so we need to wait for more Volatile times need to be a bit more Patient unfortunately it is it is what It is and we can only trade what's in Front of us really and at the moment There isn't really much in front of us Here Um this in my opinion is still sliding Down and I'll keep a close eye on this For you Um and I'm I'm watching if things um are Turning impulsively to the upside and if They do I will make you aware and then We can look for the next entry point but At the moment Um nothing convincing yet unfortunately Yeah so hopefully you like the update About ADA 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 Thank you