ALGO - Touched Golden Pocket! What next?Happy Taco Tuesday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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ALGO could be creating a Bullish Double Bottom Pattern, but only a rebound will confirm that.
Falling further past the Green Support Bar could take ALGO down towards the next Fib Level @ 78.6% $1.0566.
A push upwards past the Pink Resistance Trend Line and going above the 21MA could bring ALGO towards 1.5377 Blue Bar, then up towards the Red Resistance Trend Line.
MACD: Potential Bullish Divergence forming
Stoch RSI: Oversold Region, Potential Bullish Divergence forming
Always remember to place your Stop Loss.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader