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Weekly forecast Algorand technical chart
Symbol ALGOUSD

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Trade Setup

#ALGOUSDT
Total Profit: 24014 pip (296%)
Closed trade(s): 8038 pip Profit (100%)
Open trade(s): 15976 pip Profit (196%)

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%).
TP3 @ 1.0645 touched at 2021.08.19 with 2567 pip Profit (32%).
TP4 @ 1.1965 touched at 2021.08.21 with 3887 pip Profit (48%).
462 (6%) + 1122 (14%) + 2567 (32%) + 3887 (48%) = 8038 pip (100%)

Open Profit:
Profit for one trade is 1.2072(current price) - 0.8078(open price) = 3994 pip (49%)
4 trade(s) still open, therefore total profit for open trade(s) is 3994 (49%) x 4 = 15976 pip (196%)

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.
  • If the Midterm level 0.8540 is broken, we will close open trades.

DateAugust 21, 2021 - 12:53
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.8540 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 0.8540 is broken.

Technical analysis:

  • A trough is formed in daily chart at 0.6760 on 07/20/2021, so more gains to resistance(s) 1.3090, 1.5000, 1.6960 and more heights 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 73.

Take Profits:

  1. 0.8540
  2. 0.9200
  3. 1.0645
  4. 1.1965
  5. 1.3090
  6. 1.5000
  7. 1.8380
Click on the level to view price action history.

Symbol Released Current Forecast
Algorand (ALGOUSD) Sun, 24 Mar 2024
Algorand (ALGOUSD) Sun, 17 Mar 2024
Algorand (ALGOUSD) Sun, 10 Mar 2024
Algorand (ALGOUSD) Sun, 3 Mar 2024
Algorand (ALGOUSD) Sat, 24 Feb 2024