ALGO POISED FOR BULLISH MOVE?#ALGO looking naughty on the weekly timeframe, and currently approaching that key golden ratio on the fib retracement from the ATH set earlier this year!
ALGOUSD.P trade ideas
Algorand(testing key bullish levels)Could see a bounce off the 38.20% level, if it breaks down through that level look for a bounce at 23.6% level. If Algo can break through the parallel channel and the 50% level look for a 100% retracement then to 161.8% and beyond.
ALGO - personal buy near 2020 HighAlgorand (ALGO) is in a technical downtrend, which appears to be weakening (see MACD and thinning negative Ichimoku cloud). For a conservative trade, waiting for the MAs to cross would support a trend reversal. Personal trade made at @0.85111. Please follow BradtNom, leave a comment or link to your own ideas! Charts are for information purposes only. Not trade suggestions. DYOR (Do your own research) - act responsibly with your money.
Local Bottoms and Local TopsWithout fail, Algorand has stuck to this pattern for over 7 months now. Roughly every 30 days is a local bottom. The most recent doesn't seem like a bottom because on the chart it is in the same range algo had been bound to for quite awhile.
My target for the next local top, meaning within the next 18-25 days, is in yellow.
ALGO lagging BTC by appx 35%With a 90 day beta of 1.3 and R² = 0.7 the post recovery performance should be much closer to BTC. IMHO it's lagging by appx 35%
#algo #btc
I was right about ALGO!Told you it was lagging BTC by 30-35%! A few days ago:
"With a 90 day beta of 1.3 and R² = 0.7 the post recovery performance should be much closer to BTC . IMHO it's lagging by appx 35%"
#btc #algo
#Algo to the Moon!Hello, my dear padawans,
This is my first review, chart analysis on ALGOUSD.
I always love to draw chart patterns, to discover something we can explore to my padawans.
Do not take this as a piece of financial advice.
Let's see what's gonna happen next.
may the force be with you.
Cheers.
ALGO long Many alts i have killed lately have had this exact set up on the Daily level. Rune, sushi, Waves, Luna, Sxp, Alpha, etc.. confirmation of this would be a close above sloping resistance. easy 40-50% move to follow . 9% risk for a 46% reward..
ALGO - My Trading Plan in 3 mins!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for ALGO, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Bullish wedge on the weeklyRSI neutral and MACD sell pressure weakening. Good entry point here with btc and eth sideways and alts rising
Algorand (ALGO) - august 10Hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a nice day.
-------------------------------------
(ALGOUSD 1W Chart)
If the price is maintained above the 0.5221395-0.76754798 range, it is expected to create a new wave.
(1D chart)
If the price is maintained in the 0.65798713-0.92350974 range, it is expected to turn into an uptrend.
However, in order to continue the uptrend, it must break out of the downtrend line.
If it goes down, you should check to see if it finds support at the 0.52522584-0.65798713 zone.
-------------------------------------
(ALGOBTC 1W chart)
We are walking sideways in the section 1075 Satoshi-6469 Satoshi.
If the price is maintained above the 1970 satoshi-2886 satoshi range, it is expected to turn into an upward trend.
To continue the uptrend, it must rise above the 4309 Satoshi point.
If it rises above the 6469 Satoshi point, it is expected to create a new wave.
(1D chart)
If it finds support at the 1820 satoshi point and moves above the 2147 satoshi point, I would expect it to turn into an uptrend.
If the volume profile section spanning the 2452 Satoshi-2886 Satoshi section is exceeded upward, it is expected to continue the upward trend.
If it falls from the 1820 Satoshi point, it may enter the mid- to long-term investment area, so careful trading is required.
------------------------------------------
We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.
The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.
Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.
------------------------------------------------------------ -----------------------------------------------------
** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional 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 disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
Explanation of abbreviations displayed in 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 section where you can buy to make a profit as a support point or section.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. 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 are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow.
ALGO is sitting around strong support in green so we will be looking for buy setups.
on H4: ALGO formed an inverse head and shoulders pattern but it is not ready to go yet.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
Trigger => Waiting for a momentum candle close above the gray neckline to buy.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO Will this support holdAlgo has found a nice support at this channel base. IF it loops under this channel find a nice buy zone for the bounce back up
Algorand (ALGO)My thoughts on the path for the next few weeks.
A shift in sentiment will change this significantly, but as it stands I could see this as bitcoin improves.
I find Algorand very easy to use, I like the team. I really like the project, I just wish they did more on the marketing side.
ALGOI would say without any EW this looks like an IH&S pattern forming on the USD pairs with an upside target of $1.10- $1.17. It won't be easy but I feel $ALGO is lagging vs the BTC pair on the daily chart. So my analysis is pointing us towards a larger move to the upside here very soon. We went long in my group at .82-.84c.
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow.
ALGO is sitting around strong support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H4: ALGO is formed an inverse head and shoulders pattern but it is not ready to go yet.
Trigger => Waiting for the right shoulder to form and then buy after a momentum candle close above the gray neckline.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
ALGO is sitting around strong support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H4: ALGO is forming an inverse head and shoulders pattern but it is still an idea. so we are waiting for the right shoulder to form to consider it valid. (projection in purple)
Trigger => Waiting for the right shoulder to form and then buy after a momentum candle close above the gray neckline.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Spotting a ReversalAs you see we we're in a Uptrend, creating Higher Highs & Higher Lows. Then towards the end of the trend you see we tried to create another HH but were unable too, this is a great indicator that a reversal may play out.
I labeled the Retest, then placed a Trade there as we hit our lower resistance mark & got a Winning Trade.
If you do your own Research & put together a Trading Strategy, you can become Successful.
