Here's a quick look at ALGO 30 min chart. As we can see, the price has been forming a symmetrical triangle and we will see a breakout soon! Keep an eye on this setup! The best entry would be when the price breaks above 0.302$ with a good amount of volume. ------------------------------------------- The idea is: Buy when the price breaks above 0.302$ and take profits at the levels shown in the chart.
Targets:
1. 0.306$ 2. 0.31$ 3. 0.327$ ------------------------------------------- What are triangles when it comes to trading?
Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
------------------------------------------- If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!