IOTA's consolidation is nearing completion. A symmetrical triangle is forming nicely.
IF it is to break out, here is a possible Elliot wave count, assuming W1 is complete and W2 nearing completion at .618 fib level
Buy zone 3.65$ - 3.4$
Stop-loss 3.21$
Risk to reward ration for first target 5.3
Targets 4.5$ 5$ and 5.5$
IF it is to break out, here is a possible Elliot wave count, assuming W1 is complete and W2 nearing completion at .618 fib level
Buy zone 3.65$ - 3.4$
Stop-loss 3.21$
Risk to reward ration for first target 5.3
Targets 4.5$ 5$ and 5.5$
Comment:
Sorry everyone, we're crashing, so none of the above is valid
I moved the end of wave 2 a bit forward allowing for a nice zigzag retracement. Unfortunately I do not know how to edit the chart here unless I publish a new idea. Still on track though for now. Some nice bullish looking wicks on those last few 1 hour candles.