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Grimland
Jun 5, 2018 1:45 PM

IOTA/USD LONG Long

IOTA / DollarBitfinex

Description

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


Trade active

Trade closed: target reached

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