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$IOTA/BTC 4h (Binance Spot) Falling wedge breakout

Long
BINANCE:IOTABTC   IOTA / Bitcoin
Miota is trending inside an ascending channel and has broken out of that falling wedge .
Let's wait for a pull-back and try to catch it on 50MA support retest, which is also a demand zone!

Current Price= 0.00002450
Buy Entry= 0.00002385 - 0.00002323
Take Profit= 0.00002659 | 0.00002898 | 0.00003316
Stop Loss= 0.00002150

Risk/Reward= 1:1.5 | 1:2.67 | 1:4.72
Expected Profit= +12.96% | +23.11% | +40.87%
Possible Loss= -8.67%

Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
Trade active: All entries filled

Miota is retesting 50MA and the broken wedge , let's see if it can bounce here!

Trade closed: target reached: TP1 reached with +12.96% (1x) and +1.5R

Miota finally bounced and hit our first target, patience paying!

Trade closed: target reached: TP2 reached with +23.11% (1x) and +2.67R

Miota kept going up as well and almost hit last target, still in play!

Trade closed: target reached: TP3 reached with +40.87% (1x) and +4.72R

Miota nicely went for last target after some ranging, good thing we were patient enough!
Looks probable to continue bullish so I may re-enter on a channel breakout.

Always manage the risk accordingly and don't lever too much!
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Comments

Hi there! First of great charting. Recently discovered you around here. Is this trade still active or open again? Greetings.
Reply
TradingOn marsbioform
@marsbioform, Hi, thanks for your feedback! Trade is still active. remaining position waiting for last target. If you are out, you can open it back here at 2500 sats or even safer on entry zone ;)
Reply
No bounce, should we exit the position ?

Thanks for sharing
Reply
@yf61, not yet, but I try to always stick to the plan so won't close until SL or TP!
Reply
yf61 TradingOn
@TradingOn, thanks for reply 🙏
Reply
@yf61, there you go ;)
Reply
yf61 TradingOn
@TradingOn, pump it ! 🚀
+1 Reply
I like your chart
Reply
TradingOn Forex-Traders-Uk
@Forex-Traders-Uk, thanks for your support mate!
Reply
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