Long

IOTA in good trade setup, can it break upside for 80% profit ?

Updated

Friends, The pattern I look at here is symmetrical_triangle
http://stockcharts.com/school/doku.php?id=chart_school%3Achart_analysis%3Achart_patterns%3Asymmetrical_triangle_continuation

The Breakout can be either side of the triangle, but as the coin has good fundamental and had the decent correction, I am looking for an upside breakout.

MACD's trend is up another good sign.

Entry :
1) On the lower of the triangle or
2) Buy now or
3) On the breakout.

Target :
80% or approximately $9.

Stop loss : break below the lower side of the triangle, Exit.

I will keep this thread alive with updates. Post our thoughts, please.

Note

Testing the top the triangle. Once broken, target is $5.15, $5.50

Note

Testing the top of the triangle. Once broken, target is $5.15, $5.50

Note

Price could not break the top triangle. Falling heavily.

I may close on Pull back to the triangle and buy back at lower levels.

Trade closed manually

Pattern broke downside. So call closed. One can close now or wait for a pull back towards the triangle.

Next support at $3.

Note

My support levels :

Minor Support Levels : $3.85
Minor Support Levels : $3.55
Major Support Levels : $2.8 - $3.05

Note

Hello friends, just a reminder. We are getting close to the Support.

Note

Friends,

Here is the update on IOTA

It is day timeframe, One candle = 1 Day. Expect things to move in a week

maheswar81

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