IOTA: Uptrend and How to Join It
The price bounced from SMA200, and it was a possible buy signal based on the reversal. Now that long positions give profit. What's next?
It is possible to add more volume and open a new long position if the price breaks 0.2600 resistance.
It will be a good bullish signal as the market confirms the uptrend by a new swing high.
In order to get an additional signal that the price is going to move upward, it will be a good idea to wait for a retest of the broken resistance. If the price can stay about this level, which will act as new support, we will be able to buy using the reversal signal. This bullish signal will be more reliable than just the breakout.
Stop orders for all long positions should be placed below the local swing low and SMAs. The main profit target for buyers should be 0.3500 resistance. Risk per trade must be no more than 3-5% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It is possible to add more volume and open a new long position if the price breaks 0.2600 resistance.
It will be a good bullish signal as the market confirms the uptrend by a new swing high.
In order to get an additional signal that the price is going to move upward, it will be a good idea to wait for a retest of the broken resistance. If the price can stay about this level, which will act as new support, we will be able to buy using the reversal signal. This bullish signal will be more reliable than just the breakout.
Stop orders for all long positions should be placed below the local swing low and SMAs. The main profit target for buyers should be 0.3500 resistance. Risk per trade must be no more than 3-5% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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