ALGO - Top-Down Analysis!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
WEEKLY: Left Chart
ALGO is overall bearish however, it is approaching a strong support zone in green so we will be looking for buy setups on lower timeframes.
DAILY: Right Chart
ALGO is forming a double bottom pattern but it is not ready to go yet.
Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline.
Meanwhile, until the buy is activated, ALGO can still trade lower.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
WEEKLY: Left Chart
ALGO is overall bearish however, it is approaching a strong support zone in green so we will be looking for buy setups on lower timeframes.
DAILY: Right Chart
ALGO is forming a double bottom pattern but it is not ready to go yet.
Trigger => For the bulls to take over, we need a momentum candle close above the gray neckline.
Meanwhile, until the buy is activated, ALGO can still trade lower.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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