We have an ascending triangle forming on the daily as well as all the moving averages diverging inside the triangle which suggests that it's building up for a rally. There wasn't much significant action going on after the downtrend in August other than swing trading opportunities, but it looks like it's ready to burst!
Take long positions according to your risk management, if you're more conservative, wait for it to break out from the triangle as a confirmation.
Trade safely.
Take long positions according to your risk management, if you're more conservative, wait for it to break out from the triangle as a confirmation.
Trade safely.
Trade active
Note
ALGO broke out the ascending triangle, if it forms support on the resistance area, it's ready for lift offTrade closed: target reached
TP @ 0.45 ~350% profit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.