IRIS looks promising, just yesterday the candle sits nicely on the support and today, BOOM! skyrocketed. but this is just a thoughts and maybe worth to be look into.
PP.2 indicates the buy signal at 0.385 which approve that AD line is going downtrend after MACD successfully breakout. AD-line still is far from EMA-200 line which giving a good sign the price hold at its best and will not be fell far from PP.2.
Technical Anallysis
0.335 resistance breakout with large volume
EMA wave indicator still low. Could be initial stage of uptrend continuation
RSI moving towards overbought area
MACD above centerline
Trading Idea
Beware of false breakout
Entry price 1(low risk): Try to collect around 0.340 after retrace
Entry price 2: 0.350
Cut loss : 0.330
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In H4 chart, we observed cup and handle pattern and a possible 34% upside. MACD,Sto,RSI didn’t indicate any bullish signal. We believe the handle pattern will continue building along the channel, before testing resistance @ 0.375. Safer entry is to let the price close above EP price for a smoother upside.
EP 0.380
TP 0.425, 0.450, 0.495
SL 0.345
RRR 1:3
IRIS is...
HI! THIS IS RISKY ENTRY BECAUSE SUPPORT AREA WAS WIDE, THEREFORE RISK:REWARD RATIO WAS NOT SO GOOD. JUST FOR SHORT TERM ONLY. BASED ON VOLUME, I THINK IRIS WILL GO UP TO TEST NEAR RESISTANT AREA. I'M JUST USING INTRADAY ANALYSIS FOR SHORT TERM.
tAYOR! (TRADE @ YOUR OWN RISK)
While that might be a setback, it doesn't negate the nice returns received over the last twelve months. To wit, it had solidly beat the market, up 79%.
Notably mention!
Safe Zone:-
- TP/Buy.UP areas in between 0.305 til 0.335
-SL not lower than 0.285
