ALGOUSDT
Updated
We have no signal to change the trend and form a downward trend!
It seems that the possibility of continuing the upward trend similar to the drawn scenario is not out of mind! Keep in mind that the condition for the continuation of the upward trend is to maintain the price range of $0.3189!!!
If the upward trend continues to the white range ($0.402), the long-term descending channel will be broken upwards, and after that we should wait for the consolidation of the break.
We would be happy to hear your comments.
It seems that the possibility of continuing the upward trend similar to the drawn scenario is not out of mind! Keep in mind that the condition for the continuation of the upward trend is to maintain the price range of $0.3189!!!
If the upward trend continues to the white range ($0.402), the long-term descending channel will be broken upwards, and after that we should wait for the consolidation of the break.
We would be happy to hear your comments.
Trade active
We reached the first specified range!
But pay attention, in the corrective movement, the price range of $0.3189 has been completely consumed, and on the other hand, in the upward trend, the price range of $0.3631 has been maintained!!!
With these conditions, our mentality to continue the upward trend to higher limits has been weakened.
If the price range of $0.3396 is completely consumed, we will have the mentality of reaction and formation of a corrective trend from the price range of $0.3567.
What do you think!!?!
Note
The price range of $0.3396 was not used! And the price continued its upward trend!!!Of course, we did not have an active transaction (buying or selling)! Because neither the conditions for the formation of an upward trend nor the condition for the formation of a downward trend were met for us!!!
Note
It seems that the probability of failure of the long-term descending channel is one percent!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.