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IRISUSDT trade ideas

$IRIS Performing Falling wedge in 1d Breakout done NSE:IRIS Performing Falling wedge in 1d Breakout done Falling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation. If you want to go for more pips, you can lock in some profits at the target by closing down a portion of your position, then letting the rest of your position ride.
ILong
by UnknownUnicorn26572303
2
IRIS Looks Good with Falling Wedge IRIS Looks Good On Support area with Falling Wedge Keep eye on it HOW TO IDENTIFY A FALLING WEDGE PATTERN The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain different market conditions which must be taken into consideration. The differentiating factor that separates the continuation and reversal pattern is the direction of the trend when the falling wedge appears. A falling wedge is a continuation pattern if it appears in an uptrend and is a reversal pattern when it appears in a downtrend. Continuation or (Reversal) Pattern: Identify an uptrend or (downtrend) Link lower highs and lower lows using a trend line. The two lines will slope downwards and converge Look for divergence between price and an oscillator like the RSI or stochastic indicator Oversold signal can be confirmed by other technical tools like oscillators Look for break above resistance for a long entry Key points to remember: Identification of the trend is crucial Both continuation and reversal scenarios are inherently bullish Both patterns present favourable risk to reward ratios as they generally precede big moves
ILong
by UnknownUnicorn26572303
✴️ IRISnet Bullish Continuation After A 435% WaveIn a bear market, as happened just last year, you would get a lower low every month and sometimes within two months. When the bear market ends, a low is hit and no new lows appear. This last low is the bottom (Nov. 2022 in the case of IRISUSDT). If a bullish breakout happens within a bear market, a strong crash would follow the bullish breakout leading again to lower lows. After many months of consolidation, IRISUSDT produced a very strong bullish wave, 435%. After only 10 days of retrace we are seeing a bounce, very strong, over 54% just today. This is called a bullish continuation and works as confirmation. - The trading volume is super high when buying is happening, when prices are going up... Green. - Trading volume tends to be low when selling is happening, when prices are going down, red. IRISUSDT broke EMA300 as resistance in late February and only retraced to confirm this level as support. This confirmation came in yesterday and today we see massive growth. You can take as much as you like... But the bull market is already on! And the initial wave, just the breakout, it is doing 3 digits, all above 250% and up to 400-500%. The third wave is the biggest and then there is another one, the fifth and final wave. There is so much room left available for additional growth. Big surprise incoming but not for my followers... You already know what is taking place. We've been bullish since November 2022. What now? Enjoy the ride up. Enjoy the profits. Secure profits because we don't how know things will look like once this wave is over but we have time to prepare. Make the most out of this information. Congratulations for being ahead of the pack! Namaste.
ILong
by MasterAnanda
3
IRIS is currently in a consolidation phaseIRIS is a cryptocurrency that is currently in a consolidation phase. The current price of IRIS is $0.03668, and the RSI is at 39.30, which suggests that the asset is slightly oversold. The daily timeframe 0 Fibonacci level is $0.06338, indicating that the asset can increase if it breaks above the current resistance level. The daily timeframe upper Bollinger band is at $0.04743, and the lower Bollinger band is at $0.01561, with the middle Bollinger band at $0.03155. The asset is trading near the middle Bollinger band, indicating it is in a consolidation phase. However, if the asset breaks above the upper Bollinger band, it could signal a potential trend reversal. The volume oscillator is currently at 0.48%, indicating that the trading volume is relatively low. This could suggest that there is currently a lack of interest in the asset, which could limit its potential upside. Additionally, the MACD is at 0.00328, suggesting that the asset is currently trading with bullish momentum. The news article suggests that IRIS is heading in the right direction. The article notes that IRIS has been making significant progress in developing its blockchain technology and partnering with various organizations to expand its reach. The asset has been performing well in terms of price, with a steady increase in value over the past few months. However, it is important to note that the stochastic oscillators indicate that the asset is oversold in the short term. The D% is at 24, and the K% is at 37.92, which suggests that the asset could experience a potential price reversal soon. In conclusion, IRIS is a cryptocurrency in a consolidation phase with the potential to increase if it breaks above the current resistance level. IRIS is heading in the right direction, with progress in its development and partnerships. However, keeping an eye on the stochastic oscillators is important, as they suggest that the asset could experience a potential price reversal in the short term. The low trading volume could also indicate a lack of interest in the asset, limiting its potential upside.
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by MonoCoinSignal
6