IOTA's consolidation is nearing completion. A symmetrical triangle is forming nicely.
IF it is to break out, here is a possible Elliot wave count, assuming W1 is complete and W2 nearing completion at .618 fib level
Buy zone 3.65$ - 3.4$
Stop-loss 3.21$
Risk to reward ration for first target 5.3
Targets 4.5$ 5$ and 5.5$
IF it is to break out, here is a possible Elliot wave count, assuming W1 is complete and W2 nearing completion at .618 fib level
Buy zone 3.65$ - 3.4$
Stop-loss 3.21$
Risk to reward ration for first target 5.3
Targets 4.5$ 5$ and 5.5$
Note
Still too early to tell, the price is hovering within the buy zone.I moved the end of wave 2 a bit forward allowing for a nice zigzag retracement. Unfortunately I do not know how to edit the chart here unless I publish a new idea. Still on track though for now. Some nice bullish looking wicks on those last few 1 hour candles.
Note
Sorry everyone, we're crashing, so none of the above is valid
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.