Trisha_Saha
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ALGO at Golden Buy Zone | Low-Risk, High-Reward Setup (1D)
$ALGO
The higher timeframe structure of ALGO on the weekly chart is still bullish, but on the daily and hourly timeframes, the structure is bearish. That’s why we expect major players to enter ALGO at key support zones.
Currently, it is consuming orders within the demand zone, and it is expected to eventually reach the POI and then move toward the targets.
If strong buyers step in, the price could reach the red box.
A daily candle closing below the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
The higher timeframe structure of ALGO on the weekly chart is still bullish, but on the daily and hourly timeframes, the structure is bearish. That’s why we expect major players to enter ALGO at key support zones.
Currently, it is consuming orders within the demand zone, and it is expected to eventually reach the POI and then move toward the targets.
If strong buyers step in, the price could reach the red box.
A daily candle closing below the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
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