Colleagues, I’d like to share a method for recouping losses faster, using a coin from our portfolio as an example.
This is ALGO on the weekly timeframe.
On the broader chart, a large bullish wedge has formed on ALGO, which will eventually break upward.
For now, we can trade ALGO profitably before the main move higher.
When the price reaches the wedge’s upper trendline, we can sell ALGO if the rise happens soon. It’s better to sell in stages.
You can draw the same wedge on your chart and expect the price to rise toward its upper trendline.
Then a pullback to the local red zone is very likely. Near that zone, we’ll buy ALGO again using the funds freed up from the sale. The approximate purchase price is $0.1547.
Then we’ll hold until the wedge breaks and the price moves toward the next red zone. (I’ll provide further guidance later.)
If the wedge breaks right away, we’ll also re-enter using the funds freed up from the sale.
With this strategy, we can recover from drawdowns faster, while aiming for a larger profit later.
🔥 For the value
This is ALGO on the weekly timeframe.
On the broader chart, a large bullish wedge has formed on ALGO, which will eventually break upward.
For now, we can trade ALGO profitably before the main move higher.
When the price reaches the wedge’s upper trendline, we can sell ALGO if the rise happens soon. It’s better to sell in stages.
You can draw the same wedge on your chart and expect the price to rise toward its upper trendline.
Then a pullback to the local red zone is very likely. Near that zone, we’ll buy ALGO again using the funds freed up from the sale. The approximate purchase price is $0.1547.
Then we’ll hold until the wedge breaks and the price moves toward the next red zone. (I’ll provide further guidance later.)
If the wedge breaks right away, we’ll also re-enter using the funds freed up from the sale.
With this strategy, we can recover from drawdowns faster, while aiming for a larger profit later.
🔥 For the value