Short
IOST Rocky Mountain High - Trade Active - Targets Included
IOST setup camp and remained there for quite some time at the base of the Rockies. Today it decided to pack up camp and head up the mountain! This isn't an easy hike and there will be some dangerous terrain and steep inclines, but it's well rested for the journey.
Trade is Active and Targets are in the Red.
Short-Term
T1: 354
T2: 401
T3: 475
T4: 518
How we Trade the Breakout:
IOST is looking great in the short term. We're looking for a 4 hour close on the 100, which we should get shortly. Once we close above the 100 we can enter with a tight stop below the 100 @ 325.
If you want to play it safe wait for the 4h close over 354 resistance. We'll keep an eye on the 4h chart to watch for the close. Once we've closed over 354 this becomes support. We set our stop losses 5% - 10% below this line. We decide how tight our stops should be based off of BTC's movement. I believe BTC has seen it's high for now and alts could start to bounce, however the bulls have shown their strength, so they could step it up again and try to break 8500 resistance. We always watch the king and follow his lead when trading alts. IOST is looking good in the short term if BTC can cool off and find some sideways movement.
Remember to take profits at targets and buy on the retrace. Don't FOMO! Wait for the ideal price to come to you. You can gauge good buying prices in shorter time frames utilizing our Stochastic indicator.
May your stack see blue skies and brighter days!
- CK
**This is not to be used as financial advice but rather for educational and analysis purposes**
Trade is Active and Targets are in the Red.
Short-Term
T1: 354
T2: 401
T3: 475
T4: 518
How we Trade the Breakout:
IOST is looking great in the short term. We're looking for a 4 hour close on the 100, which we should get shortly. Once we close above the 100 we can enter with a tight stop below the 100 @ 325.
If you want to play it safe wait for the 4h close over 354 resistance. We'll keep an eye on the 4h chart to watch for the close. Once we've closed over 354 this becomes support. We set our stop losses 5% - 10% below this line. We decide how tight our stops should be based off of BTC's movement. I believe BTC has seen it's high for now and alts could start to bounce, however the bulls have shown their strength, so they could step it up again and try to break 8500 resistance. We always watch the king and follow his lead when trading alts. IOST is looking good in the short term if BTC can cool off and find some sideways movement.
Remember to take profits at targets and buy on the retrace. Don't FOMO! Wait for the ideal price to come to you. You can gauge good buying prices in shorter time frames utilizing our Stochastic indicator.
May your stack see blue skies and brighter days!
- CK
**This is not to be used as financial advice but rather for educational and analysis purposes**
Trade active
Posted at pullback. Nice retrace and we hit Target 1 againNote
Managed to close the 4h over Safe Entry AND Target 1 in one shot. Not a bad day of hiking up the mountain! Target 1 should act as support. Due to the magnitude of this increase we can run a tight stop below at 2% - 5%**REMEMBER** We watch BTC! We're seeing some bearish divergence so if we pullback, expect IOST to pullback also. We should catch support at the 200, our Safe Entry and the 100.
Note
Approaching T2Note
With such a huge rise back to back hitting T1 IOST will need a little time to consolidate and move upwards. We've been pushed below the support of T1 and this is now acting as resistance. Volume is still good and we're consolidating well right below T1. This can help us push through T1 and head to T2 when it's ready.Note
IOST was resting nicely on the 200 ema support yesterday, consolidating and getting ready to make the move up. Unfortunately, as I've mentioned, it's very important to watch BTC when trading. You can see that BTC dropped heavily due to FUD in the news. This is just what media does, they try to create FUD, helps with ratings and I won't even get into my conspiracy theories that they are used to help the big whales turn the direction of the price action to their liking.With BTC dropping 300+ it threw IOST out of consolidation on top of the 200 ema. We are now below the 100 ema and the safe entry zone. If you used stops you would have been kicked out up around 370ish and you can use all of the targets again. I would wait for a close on the 4 hour candle before entering. If you want to be safe wait for the 4 hour close over the safe entry.
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