IOTUSD Possible Continuation Pennant
Güncellendi
Currently compressed against support (with a possible bearflag in play) Remaining neutral for now until these bear indications are resolved.
For the risk-takers: There's a potential entry here (with the offset that you could have very good Risk/Reward with a tight stop)
For the cowardly lions: Wait for a break of the pennant upwards with strong volume and a test of support.
If this does break up, the fib extension would give a target of roughly $1.6 and my estimation of target for the pennant pattern (indicated with red horizontal) would be around $1.8.
By my count, this would be the final wave of the bull cycle, meaning a correction should follow (I'm an elliott noob, so correct me if this is wrong).
For the risk-takers: There's a potential entry here (with the offset that you could have very good Risk/Reward with a tight stop)
For the cowardly lions: Wait for a break of the pennant upwards with strong volume and a test of support.
If this does break up, the fib extension would give a target of roughly $1.6 and my estimation of target for the pennant pattern (indicated with red horizontal) would be around $1.8.
By my count, this would be the final wave of the bull cycle, meaning a correction should follow (I'm an elliott noob, so correct me if this is wrong).
Not
pennant has broken down, but may just be a fakeout
Not
IOT attempting a break out to the upside
Not
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.