IOTA swing trade opportunity
Reasons to open a swing trade:
Price action formed a falling wedge ( or descending triangle) on falling volume. (Both tend to be continuation patterns.) On IOTA/BTC chart, price is currently sitting on 100 day simple moving average.
If we look at IOTA/USD chart, price broke through falling wedge forming invH&S. Price also is sitting near pre-pump support area.
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Trading strategy: Buy break out from inv.head and shoulders on dollar chart on volume expansion.
Stoploss depend on what you are willing to tisk.
Price action formed a falling wedge ( or descending triangle) on falling volume. (Both tend to be continuation patterns.) On IOTA/BTC chart, price is currently sitting on 100 day simple moving average.
If we look at IOTA/USD chart, price broke through falling wedge forming invH&S. Price also is sitting near pre-pump support area.
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Trading strategy: Buy break out from inv.head and shoulders on dollar chart on volume expansion.
Stoploss depend on what you are willing to tisk.
Note
Targets will depend on Fib.LevTrade active
Broke through 4H cloud
Note
got stopped out .Note
will keep an eye on this fractal resistance level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.