AlgorandShort
ALGO seems programmed to hit 0.5 before new highs
Updated
Disclaimer: This is not financial advice
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
ALGO is overall bullish, but if this descending triangle is going to be completed then we should see it test the lower trendline of the triangle which would put the price around 0.5. This pretty much sums up my short term outlook of ALGO and is confirmed also by the algobtc chart where price is testing resistance.
Entry: 0.635-065 SL1: 0.65 TP1: 0.51
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
ALGO is overall bullish, but if this descending triangle is going to be completed then we should see it test the lower trendline of the triangle which would put the price around 0.5. This pretty much sums up my short term outlook of ALGO and is confirmed also by the algobtc chart where price is testing resistance.
Entry: 0.635-065 SL1: 0.65 TP1: 0.51
Trade closed: stop reached
Stopped out of this one, ALGO seems to be breaking out already.
Disclaimer
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