Please note that this is in no way financial advice, I would actually appreciate criticism if something here is incorrect and will consider them educationally valuable.
IOTA is currently sitting on the support of Wave 4 (even though previously broken) and the edge of the parallel channel which was established on 15/08, which also is a part of a bear flag, which can be seen on a 4h TF.
I will possibly short IOTA, once a candle closes below the channel support and the green dotted line, around 0.50, which coincides between 0.382 and 0.5 FIB, and the MACD confirm a downtick.
TP will start around 0.43 and all the way down to 0.405 (low year-to-date is 0.4037), whilst the last time IOTA was trading below 0.40 was on the 08/11/17.
I've actually charted this graph on the same day as I charted ETP, however, the RR on ETP was greater, therefore I opened a short with ETP.
IOTA is currently sitting on the support of Wave 4 (even though previously broken) and the edge of the parallel channel which was established on 15/08, which also is a part of a bear flag, which can be seen on a 4h TF.
I will possibly short IOTA, once a candle closes below the channel support and the green dotted line, around 0.50, which coincides between 0.382 and 0.5 FIB, and the MACD confirm a downtick.
TP will start around 0.43 and all the way down to 0.405 (low year-to-date is 0.4037), whilst the last time IOTA was trading below 0.40 was on the 08/11/17.
I've actually charted this graph on the same day as I charted ETP, however, the RR on ETP was greater, therefore I opened a short with ETP.
Order cancelled:
Didn't see a solid confirmation, so the trade was not taken.
