Weekly Watchlist Analysis : ALGO
Weekly Watchlist Analysis 📊
#Algo
#4h
In the first trigger of my strategy, the price has dropped by nearly 13% 📉. The previous uptrend exhibited clear signs of weakness:
Reduced Momentum: After each breakout, the price moved less each time ⬇️.
Increased Red Candles: More red candles appeared toward the end of the trend, indicating selling pressure 🟥.
Declining Buying Volume: The final wave saw reduced buying volume while selling volume spiked significantly 📈.
As the cycle high formed, the market entered a range after the drop, reinforcing the potential for an earlier short position 📉.
Entry Points:
First Entry:
After the Head and Shoulders pattern broke on the 1-hour timeframe, we got our first entry at the top of the move 🎯.
Second Entry:
As the price reached the next major support, we went for a correction. The green candles that followed lacked volume and size 📉. After the support was broken and a pullback occurred, the second entry was executed (another entry was made during the support break as well).
Third Entry:
Upon reaching the next key support level at 0.1258, a sell-off candle appeared, signaling the end of the trend or at least the start of a correction on the 4-hour timeframe 🕒. After ranging and forming a box, a false break to the downside occurred, which lacked the strength to break the previous high or even the box's high, indicating buyer weakness 📉. This was a signal to enter on the next break.
Currently, the ongoing downtrend lacks the strength seen in the previous trend. If selling volume doesn’t increase within the next 48 hours, there’s a possibility of a deep correction to the upside in higher timeframes 🔄.
Categories: Trend Analysis, Support and Resistance, Volume Analysis
Hashtags: #Algo #CryptoAnalysis #TradingStrategy #Tradecitypro #TCP 🚀
#Algo
#4h
In the first trigger of my strategy, the price has dropped by nearly 13% 📉. The previous uptrend exhibited clear signs of weakness:
Reduced Momentum: After each breakout, the price moved less each time ⬇️.
Increased Red Candles: More red candles appeared toward the end of the trend, indicating selling pressure 🟥.
Declining Buying Volume: The final wave saw reduced buying volume while selling volume spiked significantly 📈.
As the cycle high formed, the market entered a range after the drop, reinforcing the potential for an earlier short position 📉.
Entry Points:
First Entry:
After the Head and Shoulders pattern broke on the 1-hour timeframe, we got our first entry at the top of the move 🎯.
Second Entry:
As the price reached the next major support, we went for a correction. The green candles that followed lacked volume and size 📉. After the support was broken and a pullback occurred, the second entry was executed (another entry was made during the support break as well).
Third Entry:
Upon reaching the next key support level at 0.1258, a sell-off candle appeared, signaling the end of the trend or at least the start of a correction on the 4-hour timeframe 🕒. After ranging and forming a box, a false break to the downside occurred, which lacked the strength to break the previous high or even the box's high, indicating buyer weakness 📉. This was a signal to enter on the next break.
Currently, the ongoing downtrend lacks the strength seen in the previous trend. If selling volume doesn’t increase within the next 48 hours, there’s a possibility of a deep correction to the upside in higher timeframes 🔄.
Categories: Trend Analysis, Support and Resistance, Volume Analysis
Hashtags: #Algo #CryptoAnalysis #TradingStrategy #Tradecitypro #TCP 🚀
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.