Looking like a falling wedge pattern leading to support between $1.6 & $1.7, and that's where the buy zone is going to be in this trade.
RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern.
Favourable Risk to Reward here
Entry: @ $1.68 - $1.61
Stop-Loss: @ -8%
TP1: @ $1.96,
TP2: @ $2.10,
TP3: @ $2.26,
If IOTA manages to break the pattern to the upside before getting filled, buying the breakout would give a lower Risk-to-Reward value, but I think it still would be a good trade to take. :D
RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern.
Favourable Risk to Reward here
Entry: @ $1.68 - $1.61
Stop-Loss: @ -8%
TP1: @ $1.96,
TP2: @ $2.10,
TP3: @ $2.26,
If IOTA manages to break the pattern to the upside before getting filled, buying the breakout would give a lower Risk-to-Reward value, but I think it still would be a good trade to take. :D
Trade closed: stop reached:
:P
That's the reason you should have always have stops, I did not expect this to dump this hard and ended up getting stopped here.
That's the reason you should have always have stops, I did not expect this to dump this hard and ended up getting stopped here.
Comment:
This would of been a much more valid drawing of the wedge mb XD
Of course we needed to stop me out before the pump.