IOTUSD | Long on 0.28 region to ride a possible wave 3

11 gen 2019

There is a strong chance that the price will bounce off the 0.28. Support region, 0.618 fib level and the ending of a C wave coming down, this wave 2 could be seen as expanded flat correction. I only enter a position based on price action when that level is reached, let's not forget where still in a bear market.

13 gen 2019

Nota

One more wave down

14 gen 2019

Nota

We got a bounce of the expected level. Now let's see if this a real reversal. We want to see higher high and a lower high. If this happens we enter the trade.

14 gen 2019

Nota

Only taking a position on a retracement. Considering the lack of volume it could be a wave 4 retracement and a 5th has still to come down.

If we reach 0.32 with good strength the ill buy on a retracement reversal candle.

15 gen 2019

Nota

Only entering a position if we get a reversal, if we break red line this count is invalid and switch to alternative count.
Note the trend line which makes lower highs which is not a good sign

16 gen 2019

Nota

Chart is confusing to me, we get mixed signals like higher lows and lower highs. It looks like a (descending ) triangle. Let's wait to see how this unfold.