IOT/USD Plausible price action
The chart is forming good looking waves and completes the final 4th one. It is an easy-to-recognize uptrend with no signals for reversal and the corrections and intermediate and minor trends are easy to spot at the daily chart. After the completion of the 4th wave, we expect a good upside move by the 5th wave. The RSI is under 50 points but not oversold yet. This is typical for a correction while extraordinary for a trend reversal pattern. The 105 and 56 EMAs crossed but the volume they measure is meager and will be outperformed by the upside move in no time. The volume has no spikes until the big red candle and is now quite low which is also natural for a correction.
Good luck everyone!
*DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSES ONLY*
Good luck everyone!
*DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSES ONLY*
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