IOTA is approaching a strong support so we will be looking for buy setups.
on DAILY: IOTA is forming a symmetrical triangle in brown 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 till the green support zone where we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on DAILY: IOTA is forming a symmetrical triangle in brown 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 till the green support zone where we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
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www.RichTL.com
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