WaineNZeddmo
Long

IOTUSD 3H CHART IOTA ENTRY LEVELS

BITFINEX:IOTUSD   IOTA / U.S. Dollar
In the last post, a symmetric triangle was identified, after resistance break an immediate target was achieved, at next major resistance.

However, this resistance zone was not pose any resistance at all, so we could see a price rally to higher levels, and DMI confirms it. RSI and Stochastic (not shown) look overbought.

Market is currently struggling at the 0.786 Fibonacci Extension level. This could be a new entry level if broken towards the next resistance level at 1 Fibonacci Extension .

Next major resistance zone begins near $0.57. It seems unlikely to reach this level short term.

Trades could be opened right now at a 1.79 Risk/Reward ratio or even better, wait for a short term reversal and entry after uptrend is confirmed again. This would increase the Risk/Reward ratio.
Comment: Possible reversal from 0.4 Short term triangle break on weak volume
Trade closed manually: TP near 0.38 and exit
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out