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
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
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