$IOTA/USDT 1D (Binance Futures) Falling wedge breakout & retest

3 de nov. de 2021

Internet Of Things Application is pulling back to demand zone, retesting 50MA support, seems like a nice place to start a swing!
As its name stands, this is an IoT project also available of BSC, more information on iota.org

Current Price= 1.3333
Buy Entry = 1.3424 - 1.2540
Take Profit= 1.6873 | 2.2630 | 2.7920
Stop Loss= 1.0753

Risk/Reward= 1:1.75 | 1:4.33| 1:6.7
Expected Profit= +29.97% | +74.32% | +115.07%
Possible Loss= -17.17%

Fib. Retracement= 0.702| 1.117 | 1.414
Margin Leverage= 1x
Estimated Gain-time= 3.5 months

4 de dez. de 2021

Trade ativo

All entries filled

IOTA bounced on 200MA surviving the correction and is now heading back up, way to go!

4 de dez. de 2021

Nota

Up to +20.84% (1x) so far

IOTA is pushing higher again, let's see if we can reach some target soon!

4 de dez. de 2021

Nota

Deeper analysis

As you may know, we mostly use logarithmic scale to chart and trace Fibonacci levels, but sometimes linear scale can also help confirming a view.
We can see that the falling wedge was clearly retested twice and bullish continuation is in play now!

4 de dez. de 2021

Trade fechado: stop atingido

SL hit with -17.17% (1x) and -1R

After almost reaching first target with up to +28.38%, IOTA decided to retrace down big time, not cool.