ALGO USD pennant, bullish continuationAfter breaking out a couple days ago, ALGO is consolidating for another leg up. If not already long, wait for confirmation of entry.
ALGOBULLUSD trade ideas
ALGO (ALGOPERP) – Long signalBUY: 1.12 – 1.18 (Wait for price to reclaim the EMAs before entering)
TARGETS:
1) 1.44
2) 1.77
STOP: When a 4h candle closes below 0.98
Rationale:
-The 100 and 200 EMA have acted as strong support for the duration of the uptrend.
-More recently, the price has been conforming to an ascending channel.
-The RSI has also been moving in a channel and is at a key support/resistance level.
-If the RSI can break and hold above the channel it should also hold above the 200EMA. This is our signal to enter a long position.
-The confluence with the 200EMA and RSI gives us confidence in taking a long position once the EMA is reclaimed as support.
Your risk, your reward. This is not financial advice.
Happy trading.
Algorand (ALGO) - March 30Hello?
Dear traders, nice to meet you.
By "following" you can always get new information quickly.
Please also ask for the "Like" clock.
Have a nice day.
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You should watch for any movement that deviates from the 1.35677473-1.47009413 section.
If it goes down, you need to make sure you get support at 1.32179365.
If you fall at the 1.18903235 point, you need a short stop loss.
However, it may rise along the uptrend line, so careful trading is necessary.
We'll get support at 1.47009413 and see if we can climb above 2.11836146.
In the CCI-RC indicator, it remains to be seen whether the CCI line can break above the EMA line.
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(ALGOBTC 1D chart)
We need to see if we get support at the 2374 Satoshi spot and see if it breaks off the downtrend line.
The next volatility period is around April 7.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for the sake of convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closing price when closed
G2: Cigar at the time of opening
(Example) Gap (G1-G2)
algo ideatook some profits at 1.42 holding the rest for 1.72 i think algo looks solid on the daily but getting overbiught, current daily resistance at 1.40 and support at around 1.30. i think it should keep going up after a minor retrace
Algo channel top, will it bounce?Algorand looks like it has broken out of a wedge and heading upward. However, it is about to hit resistance in a ascending channel it has been in since February. However, if it breaks through that resistance, that could be a good sign that it is about to continue upward similar to what it did at its previous breakout. Hence $1.45 looks to be an interesting price to watch.
Algo - Head and Shoulder (Bearish) FormingHead and Shoulder bearish pattern beginning to form on Algo. Could signal a drop past current support.
algo ideaalgo back inside channel possible more upside could be coming, not a recomendation not a trading advise
MASTER CANDLE ON 1 WEEK TIME FRAMEThe most common way to interpret master candle is to trade its breakout.
Master candle is generally a 5 candle setup, a mother candle, and the 4 child candles that are inside the mother candle range.
If any subsequent candle outside this 5 candle sequence breaks above or below the mother candle, then it signifies that either bulls or bears have taken over and the one-sided movement may continue for some time.
NOT FINANCIAL ADVICE
ALGOUSDT ://LONG_ big NFT and algo block chain newsalso was selected to be the blockchain for registering NFTs for art
This is just one more block in the foundation for this ALGO giant. they dont pump they just build
BUY algo and shoot to the algo wallet where u earn and hold ur tokens....
_snx and Sushi look strong ie doing a lot of trading on zkswap getting swaps for less than 1usd makes scalping etc a thang.... took short term play profits in REN and swithed tokens back to zks tokens
_HGM T3Am
ALGO holding up beautifullyI am completely new to TA, and got into ALGO a bit late in the party, but watching ALGO over the past few days, it has held up to the BTC-induced overall market ups and downs remarkably based upon the ranges I assumed it would trade in on all time frames -- bouncing off of nearly every trend line and support. See my newb chart above.
