Long

ALGORAND mid-term potential setup

Updated

- 0.76$ peak on Aug 14 has lead to a deep correction in term of price
- 38-days of bearish trend should end soon
- 0.30$ should act as a psychology support
- BUY at CMP with RR 1:3.08, TP at 0.43$ zone, SL: Anything below 0.25$
- Mid to long term trade, good to hold spot/margin
- Futures trader trade with care

Bonus:
- Recent bull-run created a higher high, next bull-run should bring us to 0.80-0.97$ (nearing 1$)

Trade active

Buy orders hit @ 0.2867$, near term TP 0.3070$ for Futures / High Risk margin

For spot / margin:
Mid term 0.3350$ - 0.3763$

Long term - 0.4323$

Trade active

Added more margin BUY @ 0.27$, near term TP remains at 0.3070$

Trade active

BUY orders @ 0.27$ TP-ed at 0.3070$ - 0.3150$ zone. Price hit 0.3420$ high, spot & margin holds. Will rebuy more when price pullback in between

Trade active

Any pullbacks was a good buy with short term TP of 0.01$-0.015$ (100-150pips).

We can now confirm the uptrend after the 0.2630$ low reversal

Note

Taken profits at 0.3670$ area for both Margin and Futures ; price pullback to 0.3255$ low - rebuy was done at 0.3330-0.3370$ area.

Trade active

We are back to entry low, adding more exposure here targeting back above 0.33$ then 0.36$

Trade active

Adding more position after the sweep low, targeting 0.30$ to 0.31$ at least

douglasswg

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