Algorand ALGO

$0.1085-1.08% 24h

Lines are each pattern's own boundaries (support, resistance or neckline; grey = the pattern's swings), drawn only on the timeframe where it formed.

Minimum target (book measuring rule)Magee stop

Candles: OKX, Gate.

Chart patterns

4-week rectangle · 2 testsBroke out · retested 31d ago1D
Ch 9: price trading between a level ceiling and a level floor. Confirmed by a close about 3% above the line ($0.1048) on 2.1× normal volume. Price has since come back to the line: a pullback, which the book calls normal and frequent, not a failure. Minimum target: $0.1313 (a minimum, not a limit). Magee stop (Ch 27): $0.0809, 5% beyond the last minor bottom.
3-month inverse head and shoulders · 2 testsBroke out · retested 32d ago1D
Ch 6: three declines with the middle one (the head) lowest; the neckline joins the two rally highs and may slope. Confirmed by a close about 3% above the neckline ($0.1053) on 3.0× normal volume. Price has since come back to the neckline: a pullback, which the book calls normal and frequent, not a failure. Minimum target: $0.1399 (a minimum, not a limit). Magee stop (Ch 27): $0.0809, 5% beyond the last minor bottom.
11-month symmetrical triangle · 2 testsBroke down · retested 340d ago1W
Ch 8: falling highs and rising lows converging, volume shrinking; the book warns it is the triangle most prone to false moves. Confirmed by a close about 3% below the line ($0.1645). Price has since come back to the line: a throwback, which the book calls normal and frequent, not a failure. Minimum target: $0.0814 (a minimum, not a limit). Magee stop (Ch 27): $0.3665, 8.4% beyond the last minor top.

3-week head and shoulders top · 2 testsFakeout 7d ago4H
Ch 6: three rallies with the middle one (the head) highest; the neckline joins the two reaction lows and may slope. Confirmed by a close about 3% below the neckline ($0.1123). It then closed 3% back inside the pattern: the book treats that as a failed signal (fakeout). Minimum target: $0.1007 (a minimum, not a limit). Magee stop (Ch 27): $0.1407, 5% beyond the last minor top.
3-month inverse head and shoulders · 2 testsFakeout 13d ago1D
Ch 6: three declines with the middle one (the head) lowest; the neckline joins the two rally highs and may slope. Confirmed by a close about 3% above the neckline ($0.1152) on 1.6× normal volume. It then closed 3% back inside the pattern: the book treats that as a failed signal (fakeout). Minimum target: $0.1399 (a minimum, not a limit). Magee stop (Ch 27): $0.0809, 5% beyond the last minor bottom.
7-week flat resistance · 2 testsFakeout 58d ago1D
Ch 13: a level that stopped two rallies after a move of 10% or more; broken, old resistance tends to become support. Confirmed by a close about 3% above the line ($0.0931) on 3.1× normal volume. It then closed 3% back inside the pattern: the book treats that as a failed signal (fakeout). The book gives no measuring rule for this one. Magee stop (Ch 27): $0.0720, 5% beyond the last minor bottom.

5-week head and shoulders top · 2 tests1.9% from breakdown4H
Ch 6: three rallies with the middle one (the head) highest; the neckline joins the two reaction lows and may slope. Not broken yet: a close below $0.1065 by about 3% would confirm it. Minimum target: $0.1007 (a minimum, not a limit).