ALGUSD trade ideas
My Two Favorite Love Coins $ALGO and $ADA Continuing to follow around these guys like the poparazzi $ALGO vs $ADA
Algo: Testing IncomingIf you don't think this thing will at least retest previous all time highs you're crazy! Not financial advice... Cheers!
ALGO Long Position We can clearly see a rising wedge I used this wedge quite a lot.
I have stop loss below the support trend.
That should be a possible swing option.
ALGO getting ready for takeoff?I’m long term HODL on AlGO, so will probably pick ip some more if/when it visits the green dash. If it hits the yellow price points, I’ll probably also pick up some more, but will be watching the price action to see if it makes more sense to wait for a bigger dip. For instance, if it starts headed to the red dashed level down the inside of one of the smaller ellipses, it might not be quite ready to blast off up the bigger green slope.
Anyone else out there use ellipses for analysis? Still discovering the effectiveness and drawbacks myself, but still finding it fascinating. It’s been helping me figure our good TP and buy levels, but not perfectly, and it doesn’t help with knowing if/when a high volume event will cause an abrupt break out of an ellipse to the up/downside. Still looking to other indicators for that.
Algorand - Double your Money!!Hi guys, this is a Macro outlook on Algorand from the daily logarithmic chart. I titled it double your money because I believe we are either in a leg three wave or leg 5 wave on the macro perspective heading towards the $3 mark. If we are in the third leg, well we can be a bit more bullish on our macro target and say we are heading beyond the $3 mark. If it's also the 3rd leg of this trend, there is a chance to dip back down below the mean channel which would present a good buying opportunity, however don't be waiting for it to happen. I would be dollar cost averaging this idea, and also reinvesting my stake back into ALGO as we trend higher. I also believe if we are in the leg 3 of the elliot wave, we may see a cup and handle formation if we complete the 3rd leg at the all time high. The 4th leg would then be the handle.
Please feel free to comment your opinion on my chart, always keen to learn more. Thank you :)
Slow and Steady for Algorand*Not Financial Advice*
Algorand is the first crypto I got into (after BTC) so of course I dove deep into it. I don't expect this coin to moon in a matter of days so this is definitely a long term hold due to it's uses.
Looks like a rising wedge pattern to the ATH of 1.86. Expect resistance along the way but eventually hitting $2 and beyond.
Giant Algorand TeaAfter Algorand launched in the bear market the price had tanked which is to be expected in bearish conditions. Now that we are in a bull market we are returning to the levels we have previously been at after launch so it formed a massive cup. The handle is finishing up with the current trend. If we continue in this direction and breakthrough we can see a massive move. In my opinion Algorand is very undervalued in general. The creator is a genius, it is absolutely phenomenal project, and it just deserves much more attention in general. Let me know what you guys think about Algo.
ALGO Finding Support On Weekly Chart Potential Impulse Incoming This is my first attempt at the video format. I like becuse we can look at multi timeframes in real time. Thanks for watching.
2 long lines of resistance collideWe have 2 lines of resistance that have been held mostly as an upper and lower line of support for the past month which will cross in 3 days. That combined with the 0.618 fib line at $1.47 that has finally flipped to support we should see solid movement up to $1.65 where it may get retested and then price should challenge $1.85 again as there aren't any remaining levels of resistance that would otherwise hold ALGO back.
I am entering a long futures on #ALGOSee chart. The ride the bull zone is the zone in which the institutions tries to trow you off or shake you out of the actually move.
ALGO UPDATEALGO in a short term descending channel (purple lines). ALGO is also in a 2-day ascending wedge (blue lines) and thus far the ascending wedge is holding. Watch ALGO closely. If it stays in the descending wedge, it should break up and out of the descending channel. If ALGO descends out of the ascending triangle, watch it closely in the channel for a break up or a break down out of the channel. Keep a close eye on the volume as well. Trade carefully!
$1.48 the new support for ALGO?Look at it fly. Expecting a retrace to the top of the red ellipse, then up from there. We’ll see... that red ellipse was a pretty reliable price boundary.
Possible 5-10% Trade.Red Levels are monthly Levels
Orange levels are weekly levels
Green are daily levels
Green zones = Buy
Red zone = Stop-Loss or Sell
Not financial advice.
ALGO ; a really beautiful chartwave 3 in sequence with a cup pattern. I'm so eager to watch the result.
ALGO- RETESTMay be expected soon.
Targets are:
T1: 1.6$
T2: 1.79$
T3: 3.1$ (only if price holds above 1.79$)
Stop Loss: 0.81$.
Algo about to ride up and out of the big green bubbleCredit to @awaza who gave me the idea to start using ellipses to analyze trends. It is a highly enjoyable and so far relatively reliable technique.
