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Weekly forecast Algorand technical chart
Symbol ALGOUSD

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Trade Setup

#ALGOUSDT
Total Profit: 4068 pip (50%)
Closed trade(s): 1584 pip Profit (20%)
Open trade(s): 2484 pip Profit (30%)

Trade Setup:
We opened 8 BUY trade(s) @ 0.8078 based on 'Valley' entry method at 2021.07.23.

Closed Profit:
TP1 @ 0.8540 touched at 2021.07.25 with 462 pip Profit (6%).
TP2 @ 0.9200 touched at 2021.07.26 with 1122 pip Profit (14%).
462 (6%) + 1122 (14%) = 1584 pip (20%)

Open Profit:
Profit for one trade is 0.8492(current price) - 0.8078(open price) = 414 pip (5%)
6 trade(s) still open, therefore total profit for open trade(s) is 414 (5%) x 6 = 2484 pip (30%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 31, 2021 - 13:39
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.3915, beginning of uptrend is expected.
  • We make sure when the resistance at 1.0645 breaks.
  • If the support at 0.3915 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.68 on 07/20/2021, so more gains to resistance(s) 0.85, 0.92 and maximum to Major Resistance (1.06) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 0.85
  2. 0.92
  3. 1.06
  4. 1.20
  5. 1.31
  6. 1.50
  7. 1.84
Click on the level to view price action history.

Symbol Released Current Forecast
Algorand (ALGOUSD) Sat, 11 Sep 2021
Algorand (ALGOUSD) Sun, 5 Sep 2021
Algorand (ALGOUSD) Sat, 28 Aug 2021
Algorand (ALGOUSD) Sat, 21 Aug 2021
Algorand (ALGOUSD) free Sat, 14 Aug 2021