Hello everyone, if you like the idea, do not forget to support with a like and follow.
IOTA is overall bullish trading inside the orange channel so we will be looking for buy setups as it is sitting around the lower orange trendline.
on H4: IOTA is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, IOTA would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
IOTA is overall bullish trading inside the orange channel so we will be looking for buy setups as it is sitting around the lower orange trendline.
on H4: IOTA is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, IOTA would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal