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ALGOUSDT

Algo Swing Trade Opp$Algo #Algorand broke above .382 fib level that has acted as LTF resistance. Retesting the level as support and if it can swing back and close a H4 above .5, then swing to 2.35 is likely with more upside potential. Good R:R here IMO. Bitcoin needs to hold 56k for this to play out... —————————————————————————————— Top 10 trading tips: 1. DO NOT FOMO into PUMPs. 2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time. 3. Let your winners run and cut your losers short. 4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win! 5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy. 6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven. 7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc) 8. Don't fight the trend. The trend is your friend. 9. Use multiple indicators to confirm your TA on price action. 10. Only trade what you are willing to lose. It will be hard to trade without emotions. Please note: - This is not financial advice. - I do not take every trade I post. - Never trade off of someone else's chart until you DYOR!
ALong
by DaCryptologist
1
ALGOUSDT TECHNICAL ANALYSIS 01122021How the Risk/Reward Ratio Works In many cases, market strategists find the ideal risk/reward ratio for their investments to be approximately 1:3, or three units of expected return for every one unit of additional risk. Investors can manage risk/reward more directly through the use of stop-loss orders and derivatives such as put options. The risk/reward ratio is often used as a measure when trading individual stocks. The optimal risk/reward ratio differs widely among various trading strategies. Some trial-and-error methods are usually required to determine which ratio is best for a given trading strategy, and many investors have a pre-specified risk/reward ratio for their investments. from investopedia No investment advice...
Long
by volkancetin
3
ALGO / USDT - Falling Wedge 1HHere is how I would trade ALGO / USDT 1H Chart in a falling wedge formation. Since the RSI is approaching overbought condition, I would wait for the price to move back into the falling wedge and bounce of the dotted lines. If the price breaks the upper line of the falling wedge (again) - I recommend that you wait for a solid confirmation - then enter a long position. Take profit ideas: TG1 - 1.90$ TG2 - 1.98$ TG3 - 2.10$ TG4 - 2.21$ TG5 - 2.28$ I keep it simple and clean! Likes, comments, and follows are dearly appreciated. Let me know what you think and which ones you would like for me to analyze next. Trade safely! -------------- About Algorand: "Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. (...) Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol." Source: Coinmarketcap.com
Long
by Droz_TA
4