kuegi

[IOTA Intraday] another wedge before the breakout

Long
BITFINEX:IOTUSD   IOTA / U.S. Dollar
The whole market is building up lots of energy with all the testing all supports and resistances in BTC yesterday. The overall potential looks more bullish but anything can happen. Within all this, BITFINEX:IOTUSD is forming a nice Wedge for high potential, low risk stop entries. I would say a breakout of this area would only go along with the breakout of BTC which means big movements. But watch it closely as the markets pretty jumpy and might spike.
Trade active: Iota went throu. Btc is still not moving like a scared deer. Lets hope iota is leading the way and not getting rejected
Trade closed manually: breaking the new support means i am out. to bad the spike didnt reach the target.

Comments

Careful of the headfakes. They're common on painted patterns like this.
Reply
Thank you for your idea. nice explanations!
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