Greetings traders! As you can see, IOTUSD reveals a new triangle pattern. In this case, price can go up or down, so I recommend to open two stop orders. Volume is decreasing, which supports triangle pattern confirmation. At the moment, MACD is revealing a new bearish tendency, this can mean triangle breakout will occur at 3.9, but we should wait for more information.
Recomendation: Set a BuyStop and a SellStop order.
My BuyStop: 4.34017 BuyStop TP: 4.81144 (Hal the height of the triangle)
My SellStop: 3.89244 SellStop TP: 3.41139 (Half the height of the triangle)
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@Juanchobanano i have placed sell stop order at 3.85.-3.87. kindly let me know where will be the next support if iota break down. thank you
FibonacciHarmonicsandWaves
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Hi, If Iota breakout, what will be the next TP? and if breakdown where are the supports. TIA
Juanchobanano
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Thanks for you comment @IOTA23, I think that if breakdown occurs, support can be established at 3.5.
fey_fze
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I was looking this graphic I'm not expert in the domain but buying from 4.34 isn't that an inconsistent point ? There is a resistance around 4.51 ?
Juanchobanano
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Thanks for your comment @feyyazesat! :) I think my analysis and EXCAVO analysis are not mutually exclusive. Please visit my IOTA analysis, I just added EXCAVO triangle pattern on it :) tradingview.com/chart/4aX3B5mm/
Ravenev
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Seems like IOTA will consolidate around 4,5-4,5 for now.