IOSTUSDT 4H long setup after bounce on bottom of channel
TA Explained
IOSTUSDT is trading inside a parallel channel that is respectedfor quite a long time already. It is also one of the pairs that seems to be living its own life and not completely being correlated with every move of BTC.
Furthermore IOSTBTC is respecting a similar channel as well:
Price just bounced on the bottom of the channel and seems to be ready for a move up. Targetting the midline of the channel, the previous high and the top of the channel.
SL is placed below the channel with a little extra room to survive a fake out.
Trade setup
Best entries: 0.006002 - 0.006185
TP1: 0.006634
TP2: 0.007022
TP3: 0.007509
SL: 0.005746
RR: 3.18
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
IOSTUSDT is trading inside a parallel channel that is respectedfor quite a long time already. It is also one of the pairs that seems to be living its own life and not completely being correlated with every move of BTC.
Furthermore IOSTBTC is respecting a similar channel as well:
Price just bounced on the bottom of the channel and seems to be ready for a move up. Targetting the midline of the channel, the previous high and the top of the channel.
SL is placed below the channel with a little extra room to survive a fake out.
Trade setup
Best entries: 0.006002 - 0.006185
TP1: 0.006634
TP2: 0.007022
TP3: 0.007509
SL: 0.005746
RR: 3.18
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: stop reached:
IOST broke down the channel very strongly. This means the structure and the given TA is invalidated. It's consolidating now below outside the channel. Looks to me like preparing for another downwards impulse. Monitoring the price action for a potential short.
SL was hit with 6,8% or 20,4% with 3x leverage.
SL was hit with 6,8% or 20,4% with 3x leverage.