IOTA is touching the ''Death cross''
Looking at the IOTBTC chart, I noticed that the price is under 2 important points of resistance.
- The previous support which acts now as resistance at 0.000159-0.000165
- The Death cross (50MA crossing the 200MA) is just above the resistance
Also I have to mention that I do not trade the death cross sell signals blindly. This time I like very much the fact that the price action is really close to the death cross. There are 2 ways I could enter this trade. First is to enter when I got a new daily low, at 0.000153. The second way is to wait until the price gets near to the 50MA. In this case I got a great risk reward but the chances of being stopped out are more. Last thing, from fundamental perspective I believe that IOTA is still overvalued vs BTC (as most of the altcoins) and there is more downside in the longterm.
- The previous support which acts now as resistance at 0.000159-0.000165
- The Death cross (50MA crossing the 200MA) is just above the resistance
Also I have to mention that I do not trade the death cross sell signals blindly. This time I like very much the fact that the price action is really close to the death cross. There are 2 ways I could enter this trade. First is to enter when I got a new daily low, at 0.000153. The second way is to wait until the price gets near to the 50MA. In this case I got a great risk reward but the chances of being stopped out are more. Last thing, from fundamental perspective I believe that IOTA is still overvalued vs BTC (as most of the altcoins) and there is more downside in the longterm.
Dagangan aktif
Missed the entry at 0.000153 but the trade is technically activeDagangan ditutup secara manual
We have a nice 5.4% profit on the total position. I ll close 50% of my position here, as we reached the first resistance level
Moving the stop loss of the rest 50% position to breakeven
Nota
Stop loss of the rest 50% of my position is moved to 0.0148 locking some more profitDagangan ditutup: sasaran tercapai
Trailing stop loss hit for a profit of 2.5%So 50% of the position closed for +5.4%
The rest 50% closed for +2.5%
Enjoy
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.