Looks like IOTA is forming a falling wedge
bullish RSI divergence gives us extra confirmation
2 ways to trade this move:
1) We place a buy order above resistance of the falling wedge, if it breaks up, the falling wedge is in play, our buy order will be triggered and we ride the wave to $1.8 resistance + 100 MA
2) We wait for a reversal candle at $1.642 support + support trend of falling wedge to go long, this will able us to place a tight Stop loss under $1.642 support and again take profit at $1.8 resistance + 100 MA
bullish RSI divergence gives us extra confirmation
2 ways to trade this move:
1) We place a buy order above resistance of the falling wedge, if it breaks up, the falling wedge is in play, our buy order will be triggered and we ride the wave to $1.8 resistance + 100 MA
2) We wait for a reversal candle at $1.642 support + support trend of falling wedge to go long, this will able us to place a tight Stop loss under $1.642 support and again take profit at $1.8 resistance + 100 MA
Trade active
Trade closed: target reached