💎 ALGO has been a standout in the market, recently achieving a notable breakthrough in a key supply area. It's now undergoing a retesting phase in the Lower Time Frame (LTF), setting the stage for potential upward movement. If successful post-retest, ALGO probability may move towards our targeted strong resistance area.
💎 However, if ALGO returns to the demand area, which previously acted as a supply zone, it will be crucial for it to demonstrate a strong bounce. This is necessary to mitigate the risk of a false breakout.
💎Failure to rebound and closure below the demand level could signal a false breakout, potentially reversing ALGO's trajectory. In such a scenario, ALGO might shift towards a downward trend, moving towards the next lower target, the support area.
💎 However, if ALGO returns to the demand area, which previously acted as a supply zone, it will be crucial for it to demonstrate a strong bounce. This is necessary to mitigate the risk of a false breakout.
💎Failure to rebound and closure below the demand level could signal a false breakout, potentially reversing ALGO's trajectory. In such a scenario, ALGO might shift towards a downward trend, moving towards the next lower target, the support area.
Trade closed: target reached
Boom! #ALGO is doing just what we said. Up 40.76% and looking good!
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Do you Want to start trading like a PRO?
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Disclaimer
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