$ALLO Sell Trading Plan $ALLO
$ALLO Just hit the lower Bollinger Band on the 1H timeframe after failing to reclaim the EMA21.
Entry: $0.2700-$0.2780
Stop Loss: $0.2895
Targets: $0.2600 / $0.2450 / $0.2200
ALLO is deeply in the bearish zone across all timeframes, and sellers are moving strongly. We broke the 0.26697 support, but we did not bounce, and we are now trading below it. The Bollinger range is widening quickly on the 1H chart, indicating further downside. Retail traders’ sell positions are very large, but big traders are taking buy positions, setting up for a strong liquidation of their positions. A clear recovery of the $0.2800 level invalidates this sell setup.
$ALLO Just hit the lower Bollinger Band on the 1H timeframe after failing to reclaim the EMA21.
Entry: $0.2700-$0.2780
Stop Loss: $0.2895
Targets: $0.2600 / $0.2450 / $0.2200
ALLO is deeply in the bearish zone across all timeframes, and sellers are moving strongly. We broke the 0.26697 support, but we did not bounce, and we are now trading below it. The Bollinger range is widening quickly on the 1H chart, indicating further downside. Retail traders’ sell positions are very large, but big traders are taking buy positions, setting up for a strong liquidation of their positions. A clear recovery of the $0.2800 level invalidates this sell setup.