A second Chance to Buy in IOTAUSDMidterm forecast:
0.4015 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 55.
New trading suggestion:
*There is still a possibility of temporary retracement to suggested support line (0.4015). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to buy above the suggested support line (0.4015).
Entry signal:
Signal to enter the market occurs when the price comes to "Support line" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Trade Setup:
We opened 15 BUY trade(s) @ 0.3196 based on 'Valley' entry method at 2019.04.29.
Total Profit: 19315 pip
Closed trade(s): 4366 pip Profit
Open trade(s): 14949 149pip Profit
Closed Profit:
TP1 @ 0.3340 touched at 2019.05.13 with 144 pip Profit.
TP2 @ 0.4015 touched at 2019.05.15 with 819 pip Profit.
TP3 @ 0.4535 touched at 2019.05.16 with 1339 pip Profit.
TP4 @ 0.5260 touched at 2019.05.29 with 2064 pip Profit.
144 + 819 + 1339 + 2064 = 4366
Open Profit:
Profit for one trade is 0.4555 (current price) - 0.3196 (open price) = 1359 pip
11 trade(s) still open, therefore total profit for open trade(s) is 1359 x 11 = 14949 pip
All SLs moved to Break-even point.
Take Profits:
TP5= @ 0.6105
TP6= @ 0.7920
TP7= @ 0.9265
TP8= @ 1.1550
TP9= @ 1.4475
TP10= @ 1.7435
TP11= @ 2.2170
TP12= @ 2.6930
TP13= @ 3.3680
TP14= @ 4.2300
TP15= Free
