Algorand (ALGO) formed harmonic bullish Shark upto 276% move
Hi dear patrons, hope you are well and welcome to the new trade setup of Algorand (ALGO).
During the previous crash of May 2021, Algo formed the bullish harmonic Gartley pattern and we had a nice trade which I shared with you as below:
Now during the current crash, again on the weekly time frame, chart, ALGO has formed bullish harmonic Shark pattern for a big bullish reversal move. Right now after completing the final leg it is moved slightly up, therefore, we can wait for the candlesticks to re-enter the buying zone.
Buy between: $0.8862 to $0.6712
Sell between: $1.68 to $2.53
Stop loss:
Below: $0.6712.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 276.5%, and the high loss possibility is 25.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
During the previous crash of May 2021, Algo formed the bullish harmonic Gartley pattern and we had a nice trade which I shared with you as below:
Now during the current crash, again on the weekly time frame, chart, ALGO has formed bullish harmonic Shark pattern for a big bullish reversal move. Right now after completing the final leg it is moved slightly up, therefore, we can wait for the candlesticks to re-enter the buying zone.
Buy between: $0.8862 to $0.6712
Sell between: $1.68 to $2.53
Stop loss:
Below: $0.6712.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 276.5%, and the high loss possibility is 25.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
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