IOSTBTC breakout trade
Updated
IOST has been performing extremely well lately, and is now forming an ascending triangle pattern. As you can see it broke out of my previous trade pretty quick, due to the state of the bullish trend.
Trade it on your own risk with an entry on the bottom of the triangle with a stop loss underneath, or trade the breakout (convincing with volume) with a stop loss underneath what the current resistance line which may turn support.
Targets are the next three resistance points. I don't consider the first one a significant resistance line, though it might bounce back off to correct.
Don't forget stop losses - we all know what happens when BTC starts making trouble in the neighbourhood. Happy trading.
Trade it on your own risk with an entry on the bottom of the triangle with a stop loss underneath, or trade the breakout (convincing with volume) with a stop loss underneath what the current resistance line which may turn support.
Targets are the next three resistance points. I don't consider the first one a significant resistance line, though it might bounce back off to correct.
Don't forget stop losses - we all know what happens when BTC starts making trouble in the neighbourhood. Happy trading.
Order cancelled
Trade cancelled due to invalidation of the ascending triangle - mainly due to the BTC drop.
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