ALGOUSDT - Good timing to break out this big Triangle!
ALGOUSDT4H trend chart
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ALGO has kept consolidating as a triangle formation for a while.
There were many times fake out and needed to modify the upper downtrend line.
Now it just broke it out in 1H chart, and we should notice the closure of 4H candle is firm or not.
So if price can be confirmed of breaking out this triangle, trading strategy as below.
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Profit Targets:
a) 1.8925----Fib(1)
b) 1.9708~2.0025----Fib(1.272~1.382)
c) 2.0704-----Fib(1.618)
Stop losses:
a) 1.7730-----Red horizontal ray
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.