Technical analysis by TradingNomadic about Symbol ALGO: Buy recommendation (11/29/2024)

This is an addition to the ongoing macro trade idea from the spring phase low. This whole structure here, looks to me like one long wyckoff accumulation campaign and Adam / Eve double bottom.This is your sign of strength, and the expectation is to return to the range high, and likely see a partial decline or consolidation once achieved.If i am correct here, we could expect eventual targets at the 100% measured move of the range, confluent with both the 1.618 extension of the spring correction, and a 4.236 of wave 1 coming up. This is a weekly chart, this will take time and itll probably be a difficult hold, but if it continues to play out in this fashion, that will be my expectation until proven otherwise.