It looks as though Wave 3 on IOST has run it's course, and the Triple 3 wave correction ending in a descending triangle with a sell spike of 4m volume at 0.00007 signals some kind of short term capitulation.
Wave 3 corrected to 0.5, and Wave 1 corrected by only 0.382. So it seems plausible that IOST has finished correcting.
Stochastics are very oversold, and the RSI just hit it's bullish support line.
Wave 1 travelled 0.000024 in distance
Wave 3 travelled 0.000041 in distance
Wave 5 will likely travel closer to wave 1 distance.
Buy In = 0.0000706
Stop @ 0.000056 (a drop below would invalidate this count)
Target = 0.0000946
Risk/Reward = 1.6 (0.0000946-0.0000706 / 0.0000706 - 0.000056)
This could take over a week to play out.
Wave 3 corrected to 0.5, and Wave 1 corrected by only 0.382. So it seems plausible that IOST has finished correcting.
Stochastics are very oversold, and the RSI just hit it's bullish support line.
Wave 1 travelled 0.000024 in distance
Wave 3 travelled 0.000041 in distance
Wave 5 will likely travel closer to wave 1 distance.
Buy In = 0.0000706
Stop @ 0.000056 (a drop below would invalidate this count)
Target = 0.0000946
Risk/Reward = 1.6 (0.0000946-0.0000706 / 0.0000706 - 0.000056)
This could take over a week to play out.
Comment:
Totally didn't play out as expected. It has continued its corrective pattern.
