Algorand / TetherShort
ALGO breakout short
ALGO broke support floor on 4h chart, and retested breakout zone and 50% retracement level. After having a pullback to cradle zone, we had a bearish close below the 20 day ema on the 1h chart. On the 15 min chart, we had a break of structure and a bb break to the downside.
- This is a swing play that had a good day trade entry. I forsee some bearish action in the total market, but price may reverse and retest our previous breakout / support floor area more. My stop loss has compensated for that being above the highest volatility zone and above the previous breakout zone and consolidation area
- This trade will be managed discretionally
- This is a swing play that had a good day trade entry. I forsee some bearish action in the total market, but price may reverse and retest our previous breakout / support floor area more. My stop loss has compensated for that being above the highest volatility zone and above the previous breakout zone and consolidation area
- This trade will be managed discretionally
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