ALGORAND - Wait For The Trigger! Long

Algorand / US DollarBinance

Description

⋅ Jul 3, 2022 5:40 PM

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

WEEKLY: Left Chart
ALGO is approaching a strong support and demand zone so we will be looking for buy setups on lower timeframes.

H4: Right Chart
ALGO formed a valid channel in red but it is not ready to go yet. For the bulls to take over, we need a break above the previous high.

Trigger => Waiting for a momentum candle close above the last high in gray to buy.

Meanwhile, until the buy is activated, ALGO can still trade lower inside the blue support zone.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comments

Michael_Winner

⋅ Jul 3, 2022 7:08 PM

I guess we have a similar view on that Algo/Usd chart. Well done!

TheSignalyst

⋅ Jul 3, 2022 7:22 PM

@Michael_Winner, thanks mate

StellarTrader2

⋅ Jul 20, 2022 3:45 PM

Nice. Trigger activated.

TheSignalyst

⋅ Jul 20, 2022 4:37 PM

@StellarTrader2, wait for another daily close above the zone for extra confirmation before entering

Solldy

⋅ Jul 4, 2022 6:45 PM

Very high-quality description, my friend. I just got a high from reading it 😌 I think that the idea will work pretty quickly, with the current volatility it has every chance to do so.

yonsfx

⋅ Jul 6, 2022 1:29 AM

Amazing signalyst

DeGRAM

⋅ Jul 5, 2022 10:40 AM

Thank you for sharing your analysis.

SwallowPremium

⋅ Jul 4, 2022 8:12 PM

Great publication!

ShawnMCR

⋅ Jul 4, 2022 5:17 PM

Awesome job 💎

Investroy

⋅ Jul 4, 2022 10:41 AM

All the way up🚀