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DrDovetail

Algo with perfect retest of green channel tl as support

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Algorand (COINBASE:ALGOUSD)  
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COINBASE:ALGOUSD   Algorand
Trend Analysis Chart Patterns algousd algorand algo Falling Wedge Inverse Head and Shoulders horizontalchannel
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trendanalysis chartpattern algousd algorand algo fallingwedge inverseheadandshoulders horizontalchannel
Perfect support retest of the bottom trendline of the green horizontals channel. In reaching there price also broke above the purple falling wedge…we can also see now that price is testing the turquoise neckline of an inverse head and shoulders as well. I have put the inverse head and shoulder target and the falling wedge targets on the chart for now. Will add the channel breakout target if/when we get closer to its top trendline. *not financial advice*
Komentar:
Where price action found resistance 7 daily candles ago is actually a great place for it to have had a correction as in doing so it has now formed yet another inv h&s neckline around the 30 cent zone. Flipping 30 cents to solid support will give that invh&s pattern a breakout target that would eventually take price action up to the top green trendline around 41-42 cents.
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