Ride the trend: IOTX-BTC
Uptrend with volume
What do I see?
I see the uptrend shows power, it includes enough volume and it just broke the local resistance of the previous upswing, aiming for a new higher high.
DMI indicators show that ADX has crossed the -DI line, and MACD is going up.
It is a good buy above 0.00000566.
RSI shows it is bullish and not yet overbought.
The EMA’s are crossing.
All the ingredients for a good trend upward.
The target will be monitored, but I expect the previous swing high is possible.
Risk Reward Ratio:
Entry level: 0.000000567 - 0.0000058
profit target 1: 0.00000627
Stop Loss: 0.0000055
R/R ratio: profit target 1: 1:1.2
I did not enter yet, I have to be patient for a pullback.
When zooming in on a shorter timeframe, we see that RSI is pretty overbought, and I have places my order a bit above +1 ATR. I'm not sure we touch it, and I'm a bit too afraid we won't get to the EMA, because the trend is strong.
It is currently at +3 ATR on the 10m timeframe, so my order around +1 ATR should be picked in a short timeframe pullback. It's place around 0.000057.
Question: Do you like this trade idea? Please give it a thumbs up! I would love to know if it was useful for you! If you can do so, I am thanking you in advance!
