ALGO.usd near term Support Resistance Zones: Pullback Targets

ALGO has been rising with the overall crypto market.
It is now retracing with a clean Fib Rhythm thus far.
The mapped zones should be highly relevant levels.

.1702-13 is immediate support and may well end retrace.
.1537-46 should be strong support and a very good entry.
.1437-49 is a MUST HOLD, next support is a LOT lower.

ENTRY: go long up on a "Ping" (clean bounce) of a green zone.
STOP LOSS: place it just below the zone, perhaps 3 cents lower.
TAKE PROFIT: close some at each fib , move SL to just below that fib.

Below is my bigger picture hoping to catch a Break Out

Giao dịch đang hoạt động:

First attempt at catching a long

Two targets:
TP1: 50% to be closed with 1:1 RR, to lock some profits and cover spread.
TP2: 50% to be closed with 1:7 RR, or close 25% and let 25% ride trailing stop.

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Bình luận:

First target hit with ease.

But nothing to get very excited about yet.
That was an easy target and not much profit, but a FREE TICKET now for the larger profit.
Lets see how it goes from here.

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