ALGORAND - Wait For The Trigger!

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

WEEKLY: Left Chart
ALGO is approaching a strong support and demand zone so we will be looking for buy setups on lower timeframes.

H4: Right Chart
ALGO formed a valid channel in red but it is not ready to go yet. For the bulls to take over, we need a break above the previous high.

Trigger => Waiting for a momentum candle close above the last high in gray to buy.

Meanwhile, until the buy is activated, ALGO can still trade lower inside the blue support zone.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich