FieryTrading

🔥 ALGO Falling After Crazy Run-Up: Triangle Analysis

Short
BINANCE:ALGOUSDT   Algorand / TetherUS
ALGO has seen some immense growth over the last two months. Since half February, however, ALGO has seen consolidation inside a triangle. At the moment, it seems that ALGO is falling through the bottom support of said triangle, marking a new way down. Since Bitcoin has seen a strong drop in the past 24 hours, ALGO's performance is in line with the market.

On the chart I’ve marked two potential areas of support, S1 and S2. These areas are based on recent swing highs/lows. Do your own due diligence.

Happy trading!
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Comments

Good ideas .... but can you call on a trading idea ? What would you do
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FieryTrading Aussie-scalper
@Aussie-scalper, can you explain your question in more detail?
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Aussie-scalper FieryTrading
@FieryTrading, Its simple- how do you use this forcast in your trading?
Reply
FieryTrading Aussie-scalper
@Aussie-scalper, I trade this idea when I make the post, see it as a trading journal
Reply
good breakdown on this one :) keep it up
Reply
FieryTrading jojofang0901
@jojofang0901, thank you!
Reply
awesome mate. thanks
Reply
FieryTrading Fisher_Fx
@Fisher_Fx, cheers🔥
Reply
Simple and effective setup! 👍
Reply
FieryTrading ForecastCity_World
@ForecastCity_World, thanks bro
Reply
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