Hello everyone, if you like the idea, do not forget to support with a like and follow.
ALGO is trying to break the orange support/resistance again.
on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ALGO is trying to break the orange support/resistance again.
on H4: ALGO is forming a symmetrical triangle in blue but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above the gray zone.
Meanwhile, until the buy is activated, ALGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal