After forming a bullish Shark the priceline of IOTA/ Tether US has formed another bullish Shark pattern and entered in potential reversal zone to hit the sell targets insha Allah.
This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone.
Sofar the price action has just hit the spike in PRZ area but MACD and stochastic are strong bearish therefore I am expecting that the price action will give another chance to catch it from potential reversal zone.
Volume profile is showing less interest of traders here, but Stochastic did not give bull cross and MACD is strong bearish so for secure trade we can wait for MACD to turn weak bearish or for stochastic to give bull cross then buy.
I have used Fibonacci sequence to set the targets:
Buy between: 0.2368 to 0.2152
Sell between: 0.2555 to 0.2980
Regards,
Atif Akbar (moon333)
This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone.
Sofar the price action has just hit the spike in PRZ area but MACD and stochastic are strong bearish therefore I am expecting that the price action will give another chance to catch it from potential reversal zone.
Volume profile is showing less interest of traders here, but Stochastic did not give bull cross and MACD is strong bearish so for secure trade we can wait for MACD to turn weak bearish or for stochastic to give bull cross then buy.
I have used Fibonacci sequence to set the targets:
Buy between: 0.2368 to 0.2152
Sell between: 0.2555 to 0.2980
Regards,
Atif Akbar (moon333)
