$IOTA Setting up nicely. Could run well here...
This looks like a high probability trade. A lot of key ideas are in confluence across multiple time frames. But I definitely will be adding a stop loss.
Daily - We see a massive wedge formation playing out. and a Strong level of Support/Resistance. If we can get a daily close above, this could bounce off of support and continue upwards.
12Hr - We've had a lot of key signals play out
- Bullish TK Cross
- Bullish Kumo Twist
- Chikou Span above price
- Breaking out and closing above the cloud (Waiting on this confirmation - close of candle)
3Hr - This short term time frame is the most bullish of the 3
- Bullish TK Cross, above the cloud
- Cloud is already green
- Chikou Span above Price
- Finding support on the Tenkan and continuing to bounce
Daily - We see a massive wedge formation playing out. and a Strong level of Support/Resistance. If we can get a daily close above, this could bounce off of support and continue upwards.
12Hr - We've had a lot of key signals play out
- Bullish TK Cross
- Bullish Kumo Twist
- Chikou Span above price
- Breaking out and closing above the cloud (Waiting on this confirmation - close of candle)
3Hr - This short term time frame is the most bullish of the 3
- Bullish TK Cross, above the cloud
- Cloud is already green
- Chikou Span above Price
- Finding support on the Tenkan and continuing to bounce
Comment:
It was not the close I was hoping for. Trading Idea is still valid, but I will be extremely cautious on where I place my entry. (If I make an entry)