ALGO rejects at yOpen — Mapping High-Conviction Trade Zones

22 Jul

ALGO has delivered an impressive +124% rally from $0.1518 to $0.336 in just 25 days, completing a 5-wave Elliott impulse right into the yearly open resistance.

We are now in a correction phase, and the current structure is showing a head and shoulders pattern, with the right shoulder currently forming.
Let’s break down the key levels and setups.

🧩 Technical Breakdown

➡️ ABC Corrective Structure:

• Targeting wave C near the trend-based fib extension (TBFE) at $0.2574
  

➡️ Fib Retracement Confluence:

• 0.382 retracement of the entire 5-wave move → $0.2656
  
• Previous weekly open (pwOpen) → $0.2639
  
• Liquidity pocket likely to be swept
  
• Anchored VWAP from the $0.1518 low (start of the bullish trend) → currently at $0.2532, acting as a major support layer
  

Conclusion: Long opportunity zone between $0.2656–$0.2574

Trade Setups

🔴 Short Setup:

Why? ALGO has lost dOpen and pdOpen — a bearish sign for downward continuation.

• Entry Zone: Between dOpen and pdOpen
  
• Stop-loss: Above dOpen
  
• Target (TP): 0.382 fib retracement (~$0.2656)
  
• R:R: ≈ 1:3.5
  

🟢 Long Setup:

• Entry Zone: Laddered Entries between $0.2656–$0.2574
  
• Stop-loss: Below anchored VWAP (~$0.2532)
  
• Target (TP): ~$0.2785+
  
• R:R: ≈ 1:2.65
  

🛠 Indicator Note

I’m using my own indicator called "DriftLine - Pivot Open Zones [SiDec]" for this analysis, which I recently published.

✅ Feel free to use it in your own analysis!

Just head over to my profile → “Scripts” tab → apply it directly to your charts.

💡 Educational Insight: Why Confluence Matters

High-probability trades aren’t based on just one tool or level — they come from confluence, where multiple signals align: fib levels, VWAP, liquidity pools, price structures , and key levels.

For example, in this ALGO setup, it’s not just the fib retracement or just the VWAP — it’s the stacking of all these elements together that creates a precise zone with a better statistical edge.

✍️ Lesson: Don’t chase trades off single signals; stack tools for confirmation.



Patience, confirmation, and confluence — as always, the keys to high-probability setups. 🚀

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25 Jul

Dagangan ditutup: sasaran tercapai

Short trade target reached!

The ABC correction completed perfectly at the 1.0 Trend-Based Fib Extension.