Happy Money Monday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
I am not trading this asset but TA on this asset has been requested, so it is my pleasure to present my views on this IOTA/USD pair over on BinancUS.
==============================
IOTA dropped from the Descending Triangle currently sitting on the Green Horizontal Support Bar.
IOTA could potentially be headed for the KEY Support @ 0.5694 if it continues to drop.
IOTA is way below its 12MA and the Red Resistance Trend Line.
Another scenario for IOTA is that it could crawl sideways (range/consolidate) riding the Green Horizontal Support Bar towards the Red Resistance Trend Line, and the 12MA descends to meet up with IOTA.
Further downward push in price will bring IOTA towards the Key Support at 1.194
Breaking Key Support means breaking Market Structure and could bring IOTA towards the 0.4030 levels.
A conservative trader like me would wait for the price to escape the 12MA and the Red Resistance Trend Line prior to entering a long position.
MACD: Breached 0.1061 negating any potential bullish divergence in the immediate time period. More downside price action could ensue.
Stoch RSI: Currently at the Oversold Region.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
I am not trading this asset but TA on this asset has been requested, so it is my pleasure to present my views on this IOTA/USD pair over on BinancUS.
==============================
IOTA dropped from the Descending Triangle currently sitting on the Green Horizontal Support Bar.
IOTA could potentially be headed for the KEY Support @ 0.5694 if it continues to drop.
IOTA is way below its 12MA and the Red Resistance Trend Line.
Another scenario for IOTA is that it could crawl sideways (range/consolidate) riding the Green Horizontal Support Bar towards the Red Resistance Trend Line, and the 12MA descends to meet up with IOTA.
Further downward push in price will bring IOTA towards the Key Support at 1.194
Breaking Key Support means breaking Market Structure and could bring IOTA towards the 0.4030 levels.
A conservative trader like me would wait for the price to escape the 12MA and the Red Resistance Trend Line prior to entering a long position.
MACD: Breached 0.1061 negating any potential bullish divergence in the immediate time period. More downside price action could ensue.
Stoch RSI: Currently at the Oversold Region.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
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.
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.