Bitcoin's price action could greatly influence the outcome. Bitcoin's movements may void this entire analysis or could force IOTA's price past the target in either direction.
I do not claim to know which direction the price will go. I hope to know it will move after a breakout. Not financial advice. Good luck out there.
Resulting potential trades:
- Long at $1.7188
- Stop (sell) at $1.6566 with loss of 3.62%
- Profit (sell) at $1.8385 with gain of 6.97%
- Risk reward ratio of 1.92
- Short at $1.4863
- Stop (buy) at $1.5312 with loss of 3.10%
- Profit at (buy) $1.3288 with gain of 11.01%
- Risk reward ratio of 3.55
Also, I was very wrong about my hunch on the initial direction. I intend to refrain from making those comments in the future -- because I want to develop a trading strategy that allows for directional moves in either direction.
Track record: 2/3 for crypto; 1/1 for XRP; no pending trades at this time; documentation for a successfully closed IOTA trade is next.
Track record: 2/3 for crypto; 2/2 for IOTA; no pending trades at this time; documentation for a successfully closed XRP trade is next.