Why I IOTA Long this break
With BTC doing performing a bit of a consolidation at the moment, a few of the alts are taking the opportunity to bust a decent. Notable trades that I should have published include LINK, which I've fully closed out of, an BAT which I'm now 50% out of and stop loss is in profit.
IOTA pushed up through all 3 EMA's on the 4Hr chart, retesting each level before pushing upwards. Now it sits atop the slow EMA which has already held as support. I took an entry at the break of the medium EMA and this test of the slow EMA has me looking on the Daily chart for my 50% and final exits against the Daily EMA's.
Entering here I'd be setting my stop loss under the slow EMA and below previous structure. risk/reward looks good enough for my strategy to take this trade and see how it plays out.
IOTA pushed up through all 3 EMA's on the 4Hr chart, retesting each level before pushing upwards. Now it sits atop the slow EMA which has already held as support. I took an entry at the break of the medium EMA and this test of the slow EMA has me looking on the Daily chart for my 50% and final exits against the Daily EMA's.
Entering here I'd be setting my stop loss under the slow EMA and below previous structure. risk/reward looks good enough for my strategy to take this trade and see how it plays out.
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