$ALGO is down 1.5 percent. Ask yourself who is selling it to you at this price
Chasing green candles means you are buying from someone who caught the bottom earlier
Right now $ALGO trades at $0.11130 sitting right in the middle of its daily bounds
Volume sits at a tiny 0.4x the weekly average so nobody new is showing up to defend it
The person selling to you here is just someone trying to exit their underwater bag without taking a bigger hit
When you buy from an exit liquidity seller you are taking the bag they do not want anymore
Always wait for volume to return before you buy a quiet range
#ALGO #TradingTips
Chasing green candles means you are buying from someone who caught the bottom earlier
Right now $ALGO trades at $0.11130 sitting right in the middle of its daily bounds
Volume sits at a tiny 0.4x the weekly average so nobody new is showing up to defend it
The person selling to you here is just someone trying to exit their underwater bag without taking a bigger hit
When you buy from an exit liquidity seller you are taking the bag they do not want anymore
Always wait for volume to return before you buy a quiet range
#ALGO #TradingTips