moon333

IOST formed a big Cypher | A low risk and high reward trade

Long
BINANCE:IOSTUSDT   IOST / TetherUS
Hi dear patrons, hope you are well and welcome to the new update on IOST coin.
On the weekly time frame chart, the price action of IOST has formed a big bullish Cypher , at the moment the priceline is moving at the very end of the buying zone. There are also 50 and 100 SMAs . The 50 SMA is in the buying one and 100 SMA is below this level.

Buy and sell targets:
Buy between: $0.0372 to $0.0225

Sell between: $0.0487 to $0.0765
Stop loss:
$0.0225 can be used as a stop loss. (look for the weekly closing)

Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 240%, and the loss possibility is 40%, at the moment the priceline is moving at the very end of the buying zone therefore it is very low risk and high reward trade.

Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.