ALGO taking off
ALGORAND finally broke up after long consolidation. I'm already in from the BUY LIMIT level, just bought the initial breakout, but I will add to my position, in case of any dips, i.e. the retest of the BUY LIMIT level would be gift from gods. I will update this idea regarding any new long signals.
TP1 >> RRR 4
TP2 >> RRR 6
TP1 >> RRR 4
TP2 >> RRR 6
Note
Just set new BUY LIMIT A @ 1.233, with SL A @ 1.0875. TPs same, and RRR being almost the same as well.Trade active
order BUY LIMIT A filled moments agoTrade active
order BUY LIMIT filledNote
Closer look (H1) at the price action after initial break out. ALGO pulled back and backtested the upper edge of yellow triangle. Then consolidated into new (white) triangle which has also been broken up. Then pulled back to test the lower edge of the broken white triangle. Pure Price Action...Trade closed: stop reached
SL A hit, the trade with entry BUY LIMIT A closed. Trade with entry BUY LIMIT still in play.
As long as the lower triangle edge (the uptrendline, price currently sitting there) holds, I will be looking for long signals to re-entry.
Trade closed: stop reached
SL hit, the trade with entry BUY LIMIT closed.
a
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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.