IOTA has had a really nice run up in price recently which has lead to it missing a number of central pivots (2 daily / 1 weekly) which lead me to take a closer look. When I did I saw that I dragged a fib and saw price react off the 78.6% level which looks to be like B in and ABCD of a Butterfly.
The Butterfly could turn at 1.272 or 1.618 extension, once price gets there I will be looking to short price back down to the missed weekly.
I will update once price is in the shorting zone.
The Butterfly could turn at 1.272 or 1.618 extension, once price gets there I will be looking to short price back down to the missed weekly.
I will update once price is in the shorting zone.
Nota
OK price is getting close... no giant green bars so my order is in.entry: $1.75 (1.272 ext)
stop: $1.80 (daily R1 just above should give some protection)
target: $1.45 (weekly central pivot)
Dagangan ditutup: hentian tercapai
Great reason to have stops in place... despite the set up looking really good. Price have moved up strongly and is not heading up to the 2.618 level. Aside from this trade market is looking strong :D
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.