Have been monitoring ALGO for some time now. Have put my crayons to good use because it seems it is moving in a channel upward. It has left the channel only during the time the whole market dropped to quickly return to the predicted channel.
Can’t say anything about all the fancy Fibonacci stuff. Still learning so bear with me.
Have been able to successfully swing trade this until yesterday. It dropped more than I expected, but it is still in the channel. During this altcoin season ALGO has been very attractive for swing trading. Lots of Opportunities for 10% profit at least with a 2-1 rewards ratio.
Similar idealogy and chart ideas with regards to the timeline. Simple charts are always the best.
We seem to be in the upwards trending channel which is good. My chart was a day or two delayed but played out faster than expected lol.
Still, we managed to jump nicely from the 1.30ish mark. Personally, I TP around $1.45-46 and waiting for it to regress to the mean price on the 4HR. I would buy back in around $1.37-1.40 if I ever get the chance. I think maybe we can see another tiny drop and then one final leap which will break resistance at $1.50. Could be wrong but let's profit off these fluctuations!
We seem to be in the upwards trending channel which is good. My chart was a day or two delayed but played out faster than expected lol.
Still, we managed to jump nicely from the 1.30ish mark. Personally, I TP around $1.45-46 and waiting for it to regress to the mean price on the 4HR. I would buy back in around $1.37-1.40 if I ever get the chance. I think maybe we can see another tiny drop and then one final leap which will break resistance at $1.50. Could be wrong but let's profit off these fluctuations!