Iota is forming a decending (bottom flat) triangle, which indicates a further breakdown in price. Potential gains to be made from short and long positions, before breakdown occurs.
This is not financial advice, just a fellow trader offering his thoughts.
This is not financial advice, just a fellow trader offering his thoughts.
Note
at the moment bulls are fighting for their survival and might break the triangles resistance @0.32 level.Trade closed manually
sometimes we lose, but the true question is how you manage your positions. That will determine in the long run, if we win or lose.In this case bulls got the best of bears and broke out of the decending triangle.
Still took a decent 2% profit after seeing the signs of reversal.
Learning from these situations, makes us better traders.
Note
we have most likely formed a channel instead of a triangle. same highs, same lowsNote
the channel is between 0.30 and 0.34 dollar level
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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.