Great 4H Inverse H$S, Ascending Triangle or Equilibrium
IOTAUSD focus on 4H chart:
First,double Heads & double Shoulders pattern, with the right side mutiple higher lower, which leads to right side ascending triangle or symmetrical triangle.
Plan:
If break 0.5750 ( also in the daily chart, happen to break 12EMA at the same time), target at 0.6797 ( first resistance also 12EMA daily resistance).
or may can hold it longer to R2 around 0.8.
stop loss: 4 hour higher low
Plan2:
if aggressive, wait for 1H higher low above 0.5050 get in half, set stop loss around 0.5, the other go with plan1
It is only the personal trading note, not financial advice, but opinions and pieces of advice are welcome.
First,double Heads & double Shoulders pattern, with the right side mutiple higher lower, which leads to right side ascending triangle or symmetrical triangle.
Plan:
If break 0.5750 ( also in the daily chart, happen to break 12EMA at the same time), target at 0.6797 ( first resistance also 12EMA daily resistance).
or may can hold it longer to R2 around 0.8.
stop loss: 4 hour higher low
Plan2:
if aggressive, wait for 1H higher low above 0.5050 get in half, set stop loss around 0.5, the other go with plan1
It is only the personal trading note, not financial advice, but opinions and pieces of advice are welcome.
Comment:
wait on equilibrum pattern break, 0.5346 long, 0.4928 short