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ALGO/USDTPERP (Futures) Potential Upward Movement

ALGO/USDTPERP (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 1.8973, 1.9446, 1.9500.

Key Support Levels: 1.8168, 1.7787, 1.7700.

Daily Chart:

The price on the higher time frame found support around the 1.6904 USDT mark where it left a bar with a long wick to the downside which shows that the buyers are coming back to the market and might push the price again to the upside toward the 1.8973 USDT level.

ALGO/USDTPERP (Futures) Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bullish flag to the upside where it is retracing now to the highlighted zone before a new impulsive wave toward the target profit which is the 1.8941 USDT.

Signal Idea:

Buy Limit Order @ 1.8180

TP 1 @ 1.8941

TP 2 @ 1.9446

Stop Loss @ 1.7952

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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