ALGORAND - Buy Setup Forming!

12 Jun 2021

As per one of my ideas, we were waiting for ALGO to approach the green support to look for buy setups. (attached below)

Then we looked for a buy setup on H1 (also attached below)

NOW WHAT?

ALGO is still sitting around the green support and getting stuck in a range in the shape of a big ascending triangle as you can see in red.

Before we buy, we want the buyers to prove that they are taking over again.

on H4: we will be waiting for ALGO to break (candle close) the ascending triangle upward (projection in purple)
preferably after forming a new swing high around it.

Meanwhile, until the buy is activated, ALGO can still test the green support before upward.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

12 Jun 2021

Nota

12 Jun 2021

Nota

12 Jun 2021

Nota