ALGOUSDT LONG CURRENTLY AT BUY ZONE

8 Mac 2022

Market retraced to the institutional candle that was formed couple of months back, we are currently at the 4 wave of Elliot wave so we should see a rise in price and hit the 5 point of Elliot wave before going down we also just bounce from the bottom of the Bollinger band and MACD shows gain in momentum which means we are starting to go back up, our first take profit is at the 50% fib zone, and the second one is at the 3 point of Elliot wave, we should see higher high then the 3 Elliot wave but taking our profits in at it should be a lot more safer.

Target 1: 1.289
Target 2: 2.369
Invalidation: 0.619
Ratio: 1:4.69
Entry: 0.747