Still Have Some High Hopes with ALGOA Very Clean Bullish Piercing Pattern Might See Some Greens Now!
ALGOBULLUSD trade ideas
ALGOUSDTHello TradingView community 🚀 and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
Today I want to talk to you about the ALGOchart.
ALGO Short 🚀Hello TradingView community 🚀 and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
Today I want to talk to you about the ALGO chart.
At the moment price break the structure.
Then, I think ALGO breaks continue to move down to my goal.
My target is located at charts level.
I expect this scenario.
This is my opinion, I really hope it will be useful for you.
Be prepared and save your money. Make big profits!
An even bigger inverse h&s pattern appears on ALGOOn our way to hit the 2 targets I posted about previously from former inv h&s neckline breakouts, algo has now brought price action above an even higher inverse head and shoulder neckline. Stoch RSI is pretty over extended at this point so it would not surprise me at all if we see a dip back down to retest the neckline or even a few wicks or a candle close below the neckline before we are ready to validate the breakout above this new neckline. Of course, it could also just decide it wants to pump all the way to our next measured move target with no correction at all. I will keep hodling, but if I was leveraged i would dial down a good portion of my leverage after hitting the previous targets and try to add it back in upon a successful retest of the new neckline as support…if we do dip below the neckline as long as it holds the 50ma as support any dip below should be temporary. We maintain overall support on the 50 and then solidify support on the white neckline here we will likely validate another inv h&s breakout by the time algo’s golden cross occurs. *not financial advice*
Algorand: Liquidity Voids Hit & Failure to RallyALGO has been predictable with demand volume spiking systematically each time the PA bumps into the micro resistance. These spikes, however, have not been enough to flip the lines. We see that after the LVs are mitigated, down the PA goes, back into the channel to retest micro support and prepare for another attempt. I have no doubt the macro liquidity void (#3) will get hit: the only question is when. If things play out the way I think, I can see us going back down before that happens. ETH is in its own rising wedge, BTC doesn't look so hot either. Be careful, amigos.
*Be sure to subscribe for more easy-to-follow charts with high win ratios (80-85% average) in hitting the Fibonacci profit zones. I've been trading crypto fulltime since 2017 and handpick all the runners myself after conducting a series of volume-to-spread reads and Wyckoff schematic comparisons. Check out my past charts & see the wins for yourself.
**Not financial advice. Always DYOR and trade at your own risk.
Going Short on a Shooting star candleseries of lower highs and lower lows indicating a downtrend. SL is mentioned by the red line and TP will be at almost 10%
ALGOOAAALLLL ⚽️Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
As per my last idea (attached in the Related Ideas below), you know that I am keeping an eye on tokens that might get more exposure during the World Cup 2022.
Here is a quick reminder:
FIFA has teamed up with blockchain technology company Algorand to agree a sponsorship and technical partnership deal.
The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.
Source: Tweet attached on the chart
📉Technical Analysis:
ALGO lately rejected a weekly support zone 0.20 - 0.30 and since then it has been stuck inside a big range.
For the bulls to take over from a long-term perspective, we need a momentum daily candle close above the upper bound of the range (gray zone) around 0.440
Meanwhile, if ALGO rejected the upper gray zone and trades lower, we will be looking for short-term buy setups as it approaches the lower gray zone again.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Algorand appears to finally be triggering the inv h&s breakoutJust needs to flip the 1 day 200ma (in blue) to solidified support and it should reach both breakout targets not so long after. If it does I’m pretty confident it will see a golden cross in its near future. *not financial advice*
ALGOUSD Potential Golden Cross can send it to 0.800.Algorand (ALGOUSD) is having an impressive rise since November 02 where after a small pull-back, successfully tested the 1D MA50 (blue trend-line) as a Support. Yesterday it even broke above the 1D MA200 (orange trend-line) for the first time since January 13 and that is on its own a major bullish break-out.
However on this chart we want to focus on the emerging Golden Cross pattern on the 1D time-frame (when the 1D MA50 crosses above the 1D MA200). A potential new Golden Cross, can have the immediate "rally effect" of those that took place post 2020. As you see there have been three occurrences (July 15 2020, January 07 2021 and September 21 2021) all posting similar MACD patterns as today's. As you see the rallies that followed the Golden Crosses have been very aggressive. For better illustration and comparison purposes, we have put them all inside a table.
Those of July 2020 and Sep 2021 have been on similar magnitude while Jan 2021 has been a bit stronger. Assuming a similar rally takes place, ALGO could reach as high as 0.800, which is around the May 08 High (Resistance 2). Of course we need to consider 0.5100 and Resistance 1 as well.
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#ALGO Algorand breaking out this falling wedgeAlgorand has consolidated over the last week in the form of a falling wedge, which has broken out to the upside today. We are starting to see a slight uptick in volume today on the break which is encouraging. This should trade back to the previous highs seen in September of approximately 0.41. stop close below 0.30
[UPDATE ALGO] A lot of alts are going to do this in November?Algorand move:
1) as soon as we cross 0.38 --> 0.43 is fast in my opinions
2) my gut tells me 0.43 is going to be easy, so the next natural target is 0.50 which is the mid-range (macro)
3) we can have a deviation on the upside up to 0.70 if BTC behaves in November
This is true for Algo and for many other alts.
ALGO - No clear buying opportunity
Even though Algorand has lost almost 90% of it´s value from the Nov21 high, I still see room for a 60+% drop.
Price has been walking sideways since June, and there is no clear sign of bulls showing up.
Also note that the 100% ABC extension sits at 0.1135. Of that price level doesn't HAVE to be touched, but it is very common that ABC´s reach the 100%.
For the time being, I´m only looking for short scalp trades on ALGO.
ALGO - Wait For The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
DAILY: Left Chart
ALGO has been stuck inside a range for a while.
For the bulls to take over from a long-term perspective, we need a break above the upper gray area (upper bound of the range)
Meanwhile, as we are approaching the lower bound of the range, we will be looking for buy setups on lower timeframes.
H4: Right Chart
From a medium-term perspective, we have been bearish making lower lows and lower highs.
For the bulls to take over, we need a momentum candle close above the last major high marked in green.
Meanwhile, until the buy is activated, ALGO can still trade lower till the gray zone where we will be looking for new buy setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
12H Support to go along with Weekly HoldNothing fancy here. 12H 200MA has been respected to the tee since last December. Coming for the retest as support today. Held weekly 10sma at close, held 2 week 10sma at close. Already broke out of long descending channel. FIFA World Cup on the horizton. This sucker looks ripe.
$ALGO | Potential Move Up To Previous ResistanceALGOUSD 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.
Algo LongAlgo took out the local high for a HH over two weeks ago and has since been consolidating above support. Easy trade setup here. Possible double bottom on support at the 10sma. Close under weekly 10, exit on retest.
ALGO completing Wyckoff accumulation phaseAfter a multi-month period of mark-down ALGO is exhibiting the final stages of Wyckoff's accumulation model:
1. Preliminary Support (PS) established
2. Selling Climax (SC) achieved
3. Automatic Rally (AR) occurred
4. Secondary Tests (ST) occurred
5. Price broke key resistance level (Sign Of Strength / "crossed the creek"
6. Price Backed Up ("walk back to creek")
The next phase is the mark-up phase.
This could correspond well with a mid-term rally off SPY support level.
algoStill thinking bottoms in as I alerted to my group back in early Sept like XRP back did bottom at .30c but if BTC nukes we could overthrow to that cluster of
support & resistance I marketed off in my highlighted circle for a capitulation event.
FIFA Fever!Looks like FIFA fever is beginning, expect max $0.50 range, then a drop after Cup is over.
There will also be a dip when governance pays out as well, but should still push up to target. I expect winter to set in after for at least end Q1 2023.
Good health, family and fortune to all!
Algorand looks ready to trigger its inv h&s patternAfter doing a fakeout above the yellow neckline we now have price action for king above the white neckline….not sure which one will be the most valid but if the white neckline reaches its target they both do. I imagine it will be retesting the 1day 200ma before too long. *not financial advice*
ALGOUSDT | NEAR BREAKOUTALGOUSDT has been trading under the falling resistance. The price is trading near the falling resistance. The price has also break above 200SMA. The falling resistance is also confluence with 0.38 fib level.
Th price has multiple support level as 200SMA and 0.236 fib level and horizontal zone too.
The price is converging and now near to breakout.
One can long on breakout.
Trade your levels accordingly.
ALGOHello guys this is my trading analysis about ALGO thank you
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