$ALGO | Potential Move Up To Previous Resistance
Updated
ALGOUSD was at mid-September levels of being oversold and broke the lower Bollinger Band. I waited on confirmation for this potential reversal to the upside because of this. We had a green candle closing fully above the bottom band and above the most resistant near term support levels. Got in a buy highlighted by LONG POSITION graph with the mindset of taking profit slightly above the 200 EMA which hasn't been respected most recently but BELOW the nearest resistance which has. Will need a decent sized green candle to push through. Stop loss placed below BOTH the lower band and support levels.
Trade active
Trade closed: stop reached
Stopped out and rejected at the 200 EMA. Didnt account for that.
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