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2022-05-16 ALGOUSDT Long IdeaMy thoughts on KUCOIN:ALGOUSDT : **Daily:** Price has moved down to a key demand level aligned with the green box at 35c. From here we have seen a good reaction with a reasonable amount of volume entering the market - however, we are still clearly in a downtrend, and every failed attempt at a recovery creates more low timeframe supply zones (red boxes) that will have to be overcome to regain bullish momentum. **4H:** Price has recovered past the 10/20EMA cradle and is shaping up for a recovery push. Key levels to watch will be the 50 Fibonacci level from the recent bearish move (as aligned to the 4H 100EMA in yellow) and the 61.8Fib level (as aligned to the low timeframe supply block in red). **1H**: Showing an interesting area for a short term long play. I've marked areas for consideration for accumulation, and where a stop loss should be placed. Targets have been set based on the higher timeframe confluences. *Ideas only, not financial advice*
Long
by DoryFish
2
[ALTCOIN] ALGOUSDT TREND LINE ANALYSISHello, everyone We're a team that specializes in chart analysis We will always analyze and provide you with charts to help you sell There are so many trading laws and there are so many good technologies that come with them, but I'm confident that the trend line is really strong. If you read the point of view and get to know the line, every line will adjust Thank you. Personally, I don't like it because it's a coin that has often shown me playing with the trend line. For example, around here, when a rebound was expected, he often showed a green frog-like appearance that he supported in the line that was always expected to break and break. There has been a rebound in the current support section, but it seems that it will show a good performance only if it is raised more strongly to break through the thick yellow upward trend and retest.
by BIT_INVEST
ALGOGUSD (Long Term Buy?) Scaling InScaling in to obtain best asset prices: We are looking to acquire assets to hold long term as the markets are selling off and the SPX and ES breaking through the 4,000 level while the DXY may test new highs. We do this by scaling in slowly to obtain an attractive weighted average price in selected cryptos. For this to work, you need to be VERY TIGHT in your entries and sizes, and not chase the markets. One of the assets we are looking to acquire is Algorand (ALGOUSD) which from their website, is "the world's most decentralized, scalable, and secure blockchain infrastructure, that is capable of powering anything from decentralized finance to generative NFT art, powering future economic models." Reminders: 1) Unless you are selling puts, it is more difficult to protect yourself from the downside in cryptos and create a margin of safety by selling DOTM puts on lower strikes for protection. 2) Cryptos are more risky therefore portfolio allocation and trade sizes are of critical importance. Levels where we are looking to buy. We are looking make small purchases in the 25 to 50 cent area as it's a great price range for a long term hold. If you buy in the 50-69 cent range, it's a good but not as great. Anything above 69 cents, you are starting to chase as our min sell target is $1.85 No matter what the SPX ES and DXY do, we are looking to purchase ALGOUSD at levels that have attractive risk to reward ratios, where slow scaling in with a long term hold make sense. At the low end, if we risk $0.25 to make $1.60 (eg 1.85 - 0.25 = 1.60) or over a 5x return. At the mid level, we risk $0.50 to make $1.50 a 3x return. * If you are not willing to scale in small amount of money for a very long time minimum 3-7 years here don't do this trade. Hope it helps Marc
COINBASE:ALGOUSDLong
by PowerIndicators
4
This Chart Pattern Calls for Algorand $1.00 TargetThe technical chart suggests that Algorand (ALGO) has the potential to tag the $1.00 milestone again. The downswings since February 8 can be confined within a descending channel, with the swings getting shorter in magnitude and the momentum drying out. Algorand Descending Channel After reaching the lower support trendline, the ALGO price bounced, and we're now looking for a possible retest of the upper resistance trendline, which falls near the $1.00 psychological level. The current bounce is also supported by the RSI oscillator, which broke above the 50 mid-level. The last time the RSI broke above the 50 mid-level on March 21, ALGO's price retested the upper resistance trendline. The pattern, if confirmed, could set off a much larger rally in the coming months. However, for a meaningful reversal, we would need a daily break and close above the descending channel but, more importantly, above $1.00. We also have a massive bullish divergence between the price and the RSI oscillator, which highlights the exhaustion of selling pressure. This is a significant price development because it has the potential to call for a potential bullish reversal. Looking forward: We have to keep in mind that the overall trend is bearish as we're still trading below the 200-day simple moving average, and in terms of the price structure, we are still following a bearish path. However, we might be in the process of a reversal if the pattern highlighted above is triggered.
BINANCE:ALGOUSD
by cryptohopper
Ace of Waters - 4hr 280% 1yr backtestI have no words for this back test on gold 4hr Oanda chart - Heikinashi candles. Over 280% profit in the previous year, within just over 240 trades. Only a max drawdown of 0.46%%??? My jaw is literally on the floor right now. It has always been my dream to find a reasonable solution to market volatility on GOLD .... The test includes the .005% fee Oanda charges PLUS the 15 tick average spread or 'slippage'. Honestly, I dont know what to do. Its been 4 years and 100's of hours trying to find something simple, sustainable and for gods sakes understandable. I think mitigation of such a huge profit potential with such a small draw down is THE holy grail I was looking for. IT IS NOT FOR SALE. DONT ASK. LOOK AT THE CHART, FIGURE IT OUT FOR YOUR SELF. PS. The settings and calculations derived are NOT arbitrary or discretionary. Its dynamic and relative. I dont claim to hold any superior math skills BUT ive done enough to know the dangers of second guessing. Ide be happy trading this algorithm on autopilot and dont profess any knowable future results BUT who cares, your going to likely win 3/4 trades and the trades you loose will likely only be 1/7th the trades you win. Be like water my friends.
OANDA:XAUUSD
by Neev3009
3
ALGO Long: Update My initial thought was about .65 pivot after the last correction but overthinking and a busy day with errands blindsided me into hoping for a drop even lower, therefore I did not open an order and missed a chance to make a sweet little profit as it did move from .65 to about .69 before a tiny retrace back into the .67s. The volume is very very steady at a normal pace, not much volatility and seems to trend upward within the channels I've drawn. Buying pressure is winning here and I did go in during this last retrace, albeit a mini retrace and plan on longing until the next target which I have at about .77. Keeping my stop loss tight as I don't want to lose profit I gained from the long I opened yesterday morning and closed after the run proceeding FIFA news. If I see price action fall into the support level under the trend line I've outlined, I will look for an exit. I'm learning TA on my own by reading books, watching videos and trial and error. If you like my thought or are more experienced and think I'm on the right track, please hit "agree". Thanks!
COINBASE:ALGOUSDLong
by peppermintschnaaps
1
ALGOUSD on a strong bullish streak but not a Buy Opportunity yetAlgorand (ALGOUSD) has completed a strong 3 day bullish streak coming close to the 1D MA50 (blue trend-line) again for the first time since the first week of April. Despite this green short-ter display, it is not a buy opportunity yet, as on the medium-term it remains within a Channel Down (dashed lines) and on the long-term it has broken below the Channel Up. A buy signal will be given, when the price breaks above not just the 1D MA50 but also the Lower Highs trend-line (top) of the Channel Down. This Channel can be seen better on the linear scale: On the long-term, which will be the safest trade, ALGO will turn into a confirmed buy once the price breaks not just above the 1D MA200 (orange trend-line) but also the 1W MACD makes a Bullish Cross. As you see, the last two MACD Bullish Crosses, have resulted in strong rallies within a 2-year time-frames. Until those medium and long-term conditions are met, Algorand can be moving lower and lower in accordance to the lower Fibonacci extensions shown on the chart. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:ALGOUSD
by TradingShot
4
ALGO Uptrend BounceI think based on the support levels, trend lines, 200 day & 14 day MAs and fib levels we will see an upward click back up toward last nights highs and beyond. After stopping out of my position just before the earlier correction dump, I am averaging back in slowly with SL in place in the event this does not confirm. I am only creating / publishing for my own learning journey and in no way would want anybody to follow my advice given that I am not a professional or licensed trader.
COINBASE:ALGOUSDLong
by peppermintschnaaps