ALGO is currently forming a bear flag on the daily chart following a sharp price decline, indicating a potential continuation of the downward trend.
The pattern is further supported by the downward trend in volume. Currently, the price is experiencing a brief consolidation phase.
Now let's monitor any breakouts below the lower trendline, and a breakout with a high volume would further confirm the validity of the breakout.
The pattern is further supported by the downward trend in volume. Currently, the price is experiencing a brief consolidation phase.
Now let's monitor any breakouts below the lower trendline, and a breakout with a high volume would further confirm the validity of the breakout.
Trade closed: stop reached
Note
Just a comment - trigger never happened, so there was no tradeInnovative all-in-one trading and backtesting platform
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Innovative all-in-one trading and backtesting platform
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
cleo.finance
Test trading strategies on crypto, stocks, indices, forex with decades of 1-min data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.