ALGO LONG (update)Chart shows the play.
Entered in the white rectangle when the daily candle closed above the solid yellow bull flag.
1.5-1.7 Entry
2.2 TP
2.4 TP
Best of luck
ALGOUSDT
#Algo tries to break out it's stong resistancethere is 2 possible scenarios : Success break out the triangle and pump to target levels or breaks down the support at 1.7
and retest 1.6 and 1.25
My idea is uptrend scenario and waiting for good entry point after success break out
Targetting 3USD- consolidated for 1,5month
- slowly upward sloping price
- flipping 2USD zone as support will open the upward potential
- 1.236 extension of summer run-up
- btc pair rolls/rolled over
ALGOBTC Massive Broadening Wedge BottomUpdated. Publishing for myself to see if that broadening wedge bottom textbook plays out or not. ALGOBTC is in descending channel (red) and in broadening wedge bottom (yellow) both.
LongHello guys, we are moving in a triangle pattern. The best time to buy is when leaving the pattern.
#signal
#ALGO
#ALGOUSDT
Spot( Midterm)🌟
Enter : 1.9$
Target : 2$
Target : 2.09$
Target : 2.3$
Target : 2.4$
Target : 2.9$
Stop loss :1.74$
Daily Close In : 1.74$
Algo analysisTry to pick Algo at bottom box also on buying zone .
Algo will outperform soon and expected min 30% profit soon
ALGO ---> C&H pattern - DIRECTION 7$Hello everyone !
Today the Black Cat Trader is analyzing ALGO based on a weekly chart.
What we can see :
Pitchfork : Prices are stuck under the intermediary lower line of the pitchfork
Pattern : Prices are building what seems to be a beautiful Cup and Handle pattern.
What we can expect :
- If ALGO manages to break the median line of the pitchfork, we can expect prices to reach the intermediary upper line of the pitchfork first. A pull back on the neckline of the C&H would be perfect to send ALGO to the last upper line of the pitchfork.
- Note that the trend based fib extension gave us targets who match with our C&H and pitchfork final objectives.
Major resistance 1 : Median line of the pitchfork
Major resistance 2 : ATH
——
Major support 1 : Lower line of the pitchfork
Major support 2 : Long term uptrend (Green)
——
TP1 : 3,49$ (1.618)
TP2 : 5,23$ (2.618)
TP3 : 6,98$ (3.618)
TP4 : 8,72$ (4.618)
IF YOU LIKE THIS POST, FEEL FREE TO LEAVE A LIKE AND FOLLOW THE BLACK CAT TRADER
MAY THE CRYPTO BE WITH YOU GUYS (D.Y.O.R)
ALGO ready for next leg upALGO is consolidating in the bull flag and is ready to move. Watch for the breakout and hold on to it for big move to our target.
ALGO/USDT Cup and Handle 1H; 11/2/2021Algorand is making a cup and handle pattern, the green horizontal line is the stop loss.
TP 1: $1.9671
TP 2: $1.9993
TP 3: $2.0316
This is not financial advice, happy trading.
ALGO - Bull FlagAlgo is in a contracting triangle and we touched the extreme of the triangle and created a bullflag.
Trade idea:
Entry on breakout with stops below the flag.
Take profit: recent highs of 2.100
Algorand (Sideways Trading)Algorand is still trading sideways after forming a Large Bull Flag Pattern (blue triangle) after seeing an increase of 187%.
ALGO is now stuck in the green rectangle ( resistance zone ).
Breakout expected to the upside, with a price target of $2.49-2.60 per Algo.
The relative strength index was also trending down (during the formation of the Bull Flag ) however, the R.S.I is now stuck in the "resistance zone" as well. Trading is generally staying above the red-line in the R.S.I Chart (signaling an impending breakout possibly).
Expect resistance at 80% on the R.S.I.
[ b]Support at $1.70-$1.50, with a "floor" (high level of support) at $1.50.
Ceiling at $2.00 (high level of resistance).
$ALGO 1H EMAs crossing + new channel drawnupdate from entry earlier
testing this chart channel
could see upside imo
ALGOUSDT S&R and TrendlinesALGOUSDT current support and resistance areas and trend lines. Looks like it is in uptrend channel on a daily chart.
ALGO TA OCT 2915M TF>>>>
Algo made a potential shark pattern (yellow) and a small cypher pattern inside the shark one. (green). Possibly, the price could go down to certain levels to finish the D of both patterns.
This is a quick TA so manage ur risk properly.
Entry around 1.88-1.90
SL - 1.9150
TP - 1. 85-1.82, 1.78, 1. 74
$3.42ALGO is currently trading above the support zone of $1.69. If it can stay above this support zone, we could start seeing a move towards $1.99, $2.26, $2.49, $2.71, $3.02 and $3.42. Failure to hold the support at $1.69 could lead to a drop towards $1.55 and $1.45.
Why breakout never worksHello traders!
This is another educational post just to break your false perspective which will benefit you and it will also help you not to fall into the trap of uneducated traders.
I have seen traders who just make a trendline line and put a bullish arrow and say that after the breakout price will go to heaven but in reality breakouts never works and they are very far from reality.
If you buy a breakout blindly then there is only 1 out of 6 chance that you are correct. In other words, you will keep losing again and again with that strategy.
So why breakout never works?
The patterns that we see are illusions, they are not real but the market does react to the trendlines and patterns.
What I mean by the reaction is that after a breakout market forms different kinds of reactive patterns. These patterns help the market to move further up or they push the market back in the trendline and most of the time these pattern pushes the market back in the trend.
If you can figure out what pattern is formed after the breakout then you can predict easily that the breakout will work or it will fail.
Do your research and ask the questions.
Here is the tip: Selling on bullish breakouts is more effective than buying on bullish breakouts.
AXS- New Trendline breakout COINBASEPRO: AXSUSD
4 HR Chart
- Axie is looking very good.
- The price has been in accumulation since early October.
- We have had a sharp recovery after retesting the bottom of the symmetrical triangle.
- The price is now breaking the trend line at $133, a long position is now available with the conformation of the breakout. (4hr candle closure) .
Profit Targets:
Short term TP 1- $155
Mid term TP 2- $180
ALGO Looks Ready I don't know if ALGO will hold within this corridor or not, but I do know that ALGO is just getting started and is showing a ton of support signs. Currently, ALGO looks like it's forming a bullish pennant on the daily charts.
ALGO fake breakoutALGO has given a fake break out signal over the last days, as stated in my previous idea this was a possibility, since markets never gives you what you want straight away.
Plan doesn't change, I'm adjusting the possible timeline for ALGO to remain in it's triangle while BTC will be consolidating.
I would see anything at or under 1.65$ to be a big buy opportunity going into the end of the year.
No panic, let the market do what he wants.
ALGO TA OCT 26ALGO went up reaching 2.1 lvl. It is possible to make a reversal after finishing the abcd pattern(black) and it did at the 1.61%. Algo could go down to 1.75 lvl to finish the D of the shark pattern which can extend till 1.13% at 1.72lvl. PLS be guided also that this could only be possible if algo will break the previous high going down which is around the 1.94 lvl exactly at the 50 EMA.
3 TARGET FOR ALGO, MAJOR SUPPORT IS THE 50 EMA (Yellow)
P;S: Trade at ur own risk. The market could move opposite from our TA and that is okay. Pls correct me if im wrong
$ALGO Algorand Nice Upside Move! $ALGO Algorand Looking Higher
Little pull back to climb higher. If red lines and the range (yellow lines) breaks the idea failed.
DYOR.
