AglousdtI see in Algousdt a good opportunity as a speculation. I see a positive head and shoulders pattern, as you can see, you can enter when retesting and targets are specified in the chart.
What do you think , let me know in comments.
Algo
ALGO, being pump I will look to hold some at 0.79ALGO, being pump I will look to hold some at 0.79
This is not a financial advise or recommendation.
ALGO/USDT - Potential 123% SetupHello Traders!
After finishing the downward movement, the price of ALGO returned to the zone of interest of buyers $0.695 - $0.890.
It is possible to consider medium-term purchases in the range of $0.695 - $0.800. Price movement under $0.58 will be a trigger for closing the position.
For a short-term trade it is better to wait for a breakdown of the downtrend, the price exit beyond the price level of $1.07 and MA100 on a daily timeframe.
Targets will be price levels of $1.46 and $1.79
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
💡Don't miss the great buy opportunity in ALGOUSDTTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.7804).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 0.8885
TP2= @ 1.0043
TP3= @ 1.1023
TP4= @ 1.2046
TP5= @ 1.3170
SL= Break below S2
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💡Don't miss the great buy opportunity in ALGOUSDTTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.7804).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ALGOUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 66.
Take Profits:
TP1= @ 0.8885
TP2= @ 1.0043
TP3= @ 1.1023
TP4= @ 1.2046
TP5= @ 1.3170
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Algorand longAlgorand broke trough the descending trendline. Asset broke trough the resistance level. Bullish movement to resistance level at 0.93 is possible.
ALGO - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for ALGO.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!
All Strategies Are Good; If Managed Properly!
~Rich
algo/usdTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
The bottom is pretty much in. We have the first wave (1) completed and wave (2) is just about done. We should be working on wave (3). If you compare this chart to the previous, the price targets are relatively the same. I've added a new wave (5) target to make this chart more accurate.
Wave (1) - 2.5: done
Wave (2) - 0.60 : done or one more leg down 0.25 is lowest.
Wave (3) - 6.3-6.9
We are living in crazy times at the moment. We have a lot of crazy things going on such as pandemic and war etc so anything goes really. Your best bet is to dollar cost average down and stake. This is not financial advice.
Link to previous chart:
🆓Algorand (ALGO) Mar-18 #ALGO $ALGO
ALGO has just successfully tested the $0.7 zone and reversed with a Pipe pattern. In the near future, ALGO is quite potential when it can completely move to the $1.2 zone, but in the short term, ALGO can bear a resistance at the $1 zone so we need to pay attention to this zone.
📈RED PLAN
♻️Condition : If 1-Day closes ABOVE 0.7$ zone
🔴Buy : 0.7
🔴Sell : 0.85 - 1 - 1.2
📉BLUE PLAN
♻️Condition : If 1-Day closes BELOW 0.7$ zone
🔵Sell : 0.7
🔵Buy : 0.6 - 0.5
❓Details
🚫Stoploss for Long : 10%
🚫Stoploss for Short : 5%
📈Red Arrow : Main Direction as RED PLAN
📉Blue Arrow : Back-Up Direction as BLUE PLAN
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
Most gains for $SPY happen overnight: a quantitative studyAccording to the New York Times 2018: most gains for $SPY happen overnight. "If you had bought the SPY at the last second of trading on each business day since 1993 and sold at the market open the next day — capturing all of the net after-hour gains — your cumulative price gain would be 571 percent."
We thought why not to review this thesis in a bit more detailed way. We set a simple backtest that is not going back to 1993 but to Jan 1, 2010: hold overnight and sell in the morning.
The Setup
$10,000 to trade daily (nightly actually)
Trading only $SPY
Buy at 3:59 using a market order
Sell at 9:30, 9:31, 9:32, 9:33, 9:34, 9:35 (let's see which one does better) using a market order
Do not trade on early close days
Algo Parameters
Enter Criteria:
1.#No condition - just enter a position
2.True
Exit Criteria:
1.#Exit next day, when there is a position
2.$Position.size>0
The Results
Strategy: Hold overnight, exit 9:30
Total wins: 1651
Total loses: 1359
Total gain: 79.54%
Total gain 2022: -2.59%
Strategy: Hold overnight, exit 9:31
Total wins: 1629
Total loses: 1341
Total gain: 80.04%
Total gain 2022: -2.88%
Strategy: Hold overnight, exit 9:32
Total wins: 1628
Total loses: 1342
Total gain: 88.80%
Total gain 2022: -3.31%
Strategy: Hold overnight, exit 9:33
Total wins: 1618
Total loses: 1352
Total gain: 94.28%
Total gain 2022: -3.96%
Strategy: Hold overnight, exit 9:34
Total wins: 1617
Total loses: 1353
Total gain: 94.11%
Total gain 2022: -3.63%
Strategy: Hold overnight, exit 9:35
Total wins: 1633
Total loses: 1337
Total gain: 90.48%
Total gain 2022: -4.36%
Disclaimer: This post is for fun and educational purposes only with no attempt to beat buy and hold. Do not use this as trading/investment advice.
In the chart below, ALGO is approaching a vital dominating levelAlgorond coin price is trading into the falling wedge chart pattern and observing near above the vital support level.
ALGO coin has been underperforming for the past 5 months, therefore crypto lost around 77% of its cost.
Algorand coin price is trading below important moving averages (such as 20, 50, 100 and 200 MA) in terms of the daily price chart. Similarly, price is currently trading well below the Red Moving Lines of EMA Ribbon indicator, which is the biggest sign of weakness for long-term holders.
Recently, Stoch RSI generated a crossover under the oversold area, where D is looking at 23-points, similarly D is looking at 13-points. Bulls can take advantage of this signal. Furthermore, the Average Directional Index is moving higher, which suggests strong momentum for the ALGO coin.
Algorand coin is trading near an important support level, traders should wait for confirmation of a directional trend. If the bulls manage to hold the coin price above $0.68, there could be a breakout of the descending wedge pattern. On the other hand, ALGO could reach lower levels.
Support level- $0.680 and $0.370
Resistance level- $0.88 and $1.30
ALGO/USDT by CryptoTradersWWThis morning, I'm attempting to discover some longer-term opportunities.
Algo/USDT is one of the coins that is close to historical support.
The price is currently testing $0.67 for the fourth time, but no meaningful reaction has yet to be seen. The zone between $0.50 and $0.56 is another level | am interested in for a long time.
There is ascending trendline support as well as many levels of confluence in this area. I've activated my alerts!
<---------------------------->
☑️ Follow, Comment & Like
☑️ Create a civil and healty discuss in the comments and share with me your thoughts
Thanks and Happy Trading!
ALGO/USDT SCALP TRADE STUP!0.695-$0.705Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this ALGO/USDT SCALP setup. Our previous two scalp setups (CTK&GALA) gave us amazing more than 100% profit. Expecting the same with ALGO.
ALGO is breaking out from the falling wedge in an hourly time frame. Buy some now and add more in dips.
Entry range:- $0.695-$0.705
Target:- 10-12%
SL:- $0.682
Lev:- 10x
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
ALGO breakout shortALGO broke support floor on 4h chart, and retested breakout zone and 50% retracement level. After having a pullback to cradle zone, we had a bearish close below the 20 day ema on the 1h chart. On the 15 min chart, we had a break of structure and a bb break to the downside.
- This is a swing play that had a good day trade entry. I forsee some bearish action in the total market, but price may reverse and retest our previous breakout / support floor area more. My stop loss has compensated for that being above the highest volatility zone and above the previous breakout zone and consolidation area
- This trade will be managed discretionally
Expanding Diagonal for ALGOUSDLeading Expanding Diagonal (3-3-3-3-3)
Rules:
Wave 1 shorter than Wave 3
Wave 3 shorter than Wave 5 (sets 7$+ target for Wave 5)
Wave 4 must overlap into Wave 1 territory
Can overshoot or undershoot the top trendline
Additional comments:
Local bottoms seem to be equally spaced according to time cycles;
Stochastic RSI is deeply oversold on all major timeframes (Daily, 3D, Weekly and Monthly)
It might go lower than current price but a major move to the upside should be starting soon
There's also a lot of fundamental bullish news for Algorand in 2022
This chart is for educational purposes only, it's not financial advice
Bullish $ALGO Technicals Supported by Super Bullish Fundamentals$ALGO is in a clear long-term uptrend.
It is now retesting the bottom of the rising channel.
MACD has bullish divergence. MACD is starting to reverse while price continued to slide down on lower volume.
Stochastic in extreme oversold territory.
Algorand's super bullish fundamentals will propel $ALGO to all new time highs.
Once escape velocity is achieved to all new time highs, $ALGO will then enter price discovery mode and break out of the rising channel for a parabolic move.
Major fundamental catalysts to provide the rocket fuel are:
1. Multitude of DeFi projects launching in coming months with no end in sight - amplified by incentive reward programs to bootstrap the DeFi ecosystem - TVL boom
2. Staci Warden as new Algorand Foundation CEO with aggressive marketing and PR strategy
3. Algorand protocol upgrades and TPS boost
4. Multi-chain bridges - Glitter, Applied Blockchain Ethereum London Bridge, C3 Protocol
5. Institutional and enterprise implementations - SkyBridge, NAX, UNLOX, real estate (Vesta Equity, Homium, Lofty AI, QuantmRE, etc)
6. Government national initiatives
ALGOUSD CLOSE TO BREAKOUTALGOUSD is finishing bullish wedge pattern, we already bounced two times and closing in on breaking it upwards. We should look for a retracement back to 50% fib.
Aroon: On a daily timeframe it is already giving us an entry for a bullish trade.
Macd: is showing bullish momentum gain but we need to wait for a signal line to cross.
Bollinger band: We already bounced off of a bottom of a Bollinger band which indicates we should go long.
Entry: 0.77
Invalidation: 0.600
Target: 1.66
Ratio: 1:5
Most traders underperform to a coin flip day trading botFirst-time day traders are most likely going to lose money. CNBC quotes at least four studies with a similar conclusion: 90% of traders fail to make money.
The primary reason that most traders fail is not because of their strategy, it is because of their psychology. As Benjamin Graham liked to say, “The worst enemy of the investor is most likely himself.”
To quantify how bad the fact of 90% losing money is, we compared it to a coin flip trading bot which makes a trading decision based on a virtual coin flip random(0,1)
Below are the results for
Trading $QQQ
Random enter and exit at 10min intervals
No stop loss
Always exit EOD (no hold overnight)
100 simulations per year to smooth it out
Algo parameters:
Enter Criteria: $Random.random >=0.5
Exit Criteria: $Random.random >=0.5
Year over year performance:
2016:
Average Performance 1.92%
Best Performance 20.38%
Worst Performance -10.21%
Average MDD -6.65%
2017:
Average Performance 3.08%
Best Performance 10.92%
Worst Performance -4.10%
Average MDD -3.99%
2018:
Average Performance -3.56%
Best Performance 21.65%
Worst Performance -21.08%
Average MDD -12.05%
2019:
Average Performance 4.80%
Best Performance 15.61%
Worst Performance -6.75%
Average MDD -6.03%
2020:
Average Performance 6.66%
Best Performance 33.63%
Worst Performance -17.12%
Average MDD -10.69%
2021:
Average Performance 2.41%
Best Performance 26.31%
Worst Performance -17.97%
Average MDD -7.25%
2022:
Average Performance -4.21%
Best Performance 3.91%
Worst Performance -10.00%
Average MDD -5.40%
We expected it to perform worse than that ;)
Disclaimer: NOT financial/investment advice
