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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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.
Related publications
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.