IOTA TRADE SETUP - SHOWING DIFFERENT ENTRY STRATEGIES
Hi guys, been a while.
IOTA just had its first initial impulsive leg up after a downtrend and is forming a continuation pattern. In this pattern i have layed out three different areas where you could go long with respectively their risk to reward ratios. As you can see the best entry is the one closest to the baseline of the triangle, but it doesnt reach this level too often. Depending on how aggressive / conservative you are as a trader, you choose at which point you would like to enter. Breakout trades are usually high in risk, but when done properly can give a higher succes rate.
Im looking to go long at the low risk level obviously, but when iota breaks out before it reaches that, i would take a smaller position size long at higher prices.
good luck
IOTA just had its first initial impulsive leg up after a downtrend and is forming a continuation pattern. In this pattern i have layed out three different areas where you could go long with respectively their risk to reward ratios. As you can see the best entry is the one closest to the baseline of the triangle, but it doesnt reach this level too often. Depending on how aggressive / conservative you are as a trader, you choose at which point you would like to enter. Breakout trades are usually high in risk, but when done properly can give a higher succes rate.
Im looking to go long at the low risk level obviously, but when iota breaks out before it reaches that, i would take a smaller position size long at higher prices.
good luck
Trade active:
in
Trade closed: stop reached:
made a new low