ALGORAND - Buy Setup Forming!

As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below)

Then we looked for a buy setup on H1 (also attached below)

NOW WHAT?

ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red.

Before we buy, we want the buyers to prove that they are taking over again.

on H4: we will be waiting for ALGO to break (candle close) the ascending triangle upward (projection in purple)
preferably after forming a new swing high around it.

Meanwhile, until the buy is activated, ALGO can still test the green support before upward.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Yorum:

Yorum:

Yorum: