Looking like a falling wedge pattern leading to support between $1.6 & $1.7, and that's where the buy zone is going to be in this trade. RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern. Favourable Risk to Reward here Entry: @ $1.68 - $1.61 Stop-Loss: @ -8% TP1: @ $1.96, TP2: @ $2.10, TP3: @ $2.26, If IOTA manages to break the pattern to the upside before getting filled, buying the breakout would give a lower Risk-to-Reward value, but I think it still would be a good trade to take. :D
Trade closed: stop reached
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:P That's the reason you should have always have stops, I did not expect this to dump this hard and ended up getting stopped here.
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Oh that's annoying XD Of course we needed to stop me out before the pump.
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This would of been a much more valid drawing of the wedge mb XD