Trading idea for IOTA/USD LONG - Current price 1.476 USD
Updated
In the 15 MIN chart we saw as Tenkan Sen crossed above the Kijun Sen, it was a bullish signal. As this type of buying signal occurred above the Kumo (cloud) in a 4H chart, so we can be sure that this was a strong bullish signal. But BTC is showing high volatility in price for the last days, so we need to be cautious.
Now, we are waiting a bullish signal confirmation in previous all time high for IOTA ~1.548 USD
For maximum risk management on this trade, we also could move the stop-loss up with the Kumo, keeping it just below the bottom edge. For even tighter risk management, we could move our stop-loss with the Kijun Sen, keeping it 5 to 10 pips below that line.
We can use MACD+DI as an extra confirmation method and now we can see a green point (buy signal).
The RSI is currently above 50. It is an indication of a bullish market.
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Buy: As explained above. ~ 1.55 - 1.56 USD
Take-profit: You are free to decide, but avoid greed. See the Fibonacci extensions provided in graph for reference.
Stop-loss: ~ 0.969 USD
Now, we are waiting a bullish signal confirmation in previous all time high for IOTA ~1.548 USD
For maximum risk management on this trade, we also could move the stop-loss up with the Kumo, keeping it just below the bottom edge. For even tighter risk management, we could move our stop-loss with the Kijun Sen, keeping it 5 to 10 pips below that line.
We can use MACD+DI as an extra confirmation method and now we can see a green point (buy signal).
The RSI is currently above 50. It is an indication of a bullish market.
======
Buy: As explained above. ~ 1.55 - 1.56 USD
Take-profit: You are free to decide, but avoid greed. See the Fibonacci extensions provided in graph for reference.
Stop-loss: ~ 0.969 USD
Trade closed manually
Closed manually at 4.87 USD with 314% profit.Congratulations!
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