ALGO.USD coming in for a Landing? AlgoRand at 1 of 2 Supports
Quick plot to observe price action around expected supports
We have just hit a support zone, which should at least slow it down.
Am expecting one notch lower, but it could bounce here and now.
In my last plot below, the retrace played out roughly as expected.
The bounce took off from a zone defined by these same fibs.
But the bounce was almost vertical, so it may retrace deep.
0.2537 - 2555 is immediate support, unlikely to hold for long.
0.2424 - 2456 is likely to be hit, and possible long entry for me.
0.2624 - 2640 will be first resistance above, worth watching.
Previous ALGO analysis:
We have just hit a support zone, which should at least slow it down.
Am expecting one notch lower, but it could bounce here and now.
In my last plot below, the retrace played out roughly as expected.
The bounce took off from a zone defined by these same fibs.
But the bounce was almost vertical, so it may retrace deep.
0.2537 - 2555 is immediate support, unlikely to hold for long.
0.2424 - 2456 is likely to be hit, and possible long entry for me.
0.2624 - 2640 will be first resistance above, worth watching.
Previous ALGO analysis:
Comment:
I have posted an UPDATED plot here
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the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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