ALGO getting ready for takeoff?
I’m long term HODL on AlGO, so will probably pick ip some more if/when it visits the green dash. If it hits the yellow price points, I’ll probably also pick up some more, but will be watching the price action to see if it makes more sense to wait for a bigger dip. For instance, if it starts headed to the red dashed level down the inside of one of the smaller ellipses, it might not be quite ready to blast off up the bigger green slope.
Anyone else out there use ellipses for analysis? Still discovering the effectiveness and drawbacks myself, but still finding it fascinating. It’s been helping me figure our good TP and buy levels, but not perfectly, and it doesn’t help with knowing if/when a high volume event will cause an abrupt break out of an ellipse to the up/downside. Still looking to other indicators for that.
Anyone else out there use ellipses for analysis? Still discovering the effectiveness and drawbacks myself, but still finding it fascinating. It’s been helping me figure our good TP and buy levels, but not perfectly, and it doesn’t help with knowing if/when a high volume event will cause an abrupt break out of an ellipse to the up/downside. Still looking to other indicators for that.
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