IOST - Why you might want to wait to buy this
Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
Before I start on my tangent on IOST, let me tell you about a little feature of TradingView - The alert. Set a price cross alert on this bad boy. Where to set the alert will be analyzed below.
I'll have to be honest, I'm not a huge fan of this but I was asked to provide an analysis on it and this is what I see. First I see what most people in the cryptosphere love. A cup and handle! Don't get too excited. Personally I think most cup and handles are memes but there are ways to trade them if they actually happen.
Theory is you measure the depth of the cup and trade the breakout and expect a 100% expansion of the breakout equal to the depth of the cup. In this case, that target would be 290 satoshi. In this case, it's about 40% profit. Not bad, right?
I said cup and handles are usually memes so if I end up trading this, I don't expect a target of 290. I'd actually end up taking about 60% profit at about 227 and leaving the other 40% in play and sell it at 245. That is about 50% of the depth of the cup.
Bear market, remember? Don't trade on hopes and dreams. Trade the breakout or trade the divergence. We don't have any divergence right now and we sure don't have a breakout, either.
Don't be afraid to take profits along the way.
Trade safely friends!
<3 -CE-
Before I start on my tangent on IOST, let me tell you about a little feature of TradingView - The alert. Set a price cross alert on this bad boy. Where to set the alert will be analyzed below.
I'll have to be honest, I'm not a huge fan of this but I was asked to provide an analysis on it and this is what I see. First I see what most people in the cryptosphere love. A cup and handle! Don't get too excited. Personally I think most cup and handles are memes but there are ways to trade them if they actually happen.
Theory is you measure the depth of the cup and trade the breakout and expect a 100% expansion of the breakout equal to the depth of the cup. In this case, that target would be 290 satoshi. In this case, it's about 40% profit. Not bad, right?
I said cup and handles are usually memes so if I end up trading this, I don't expect a target of 290. I'd actually end up taking about 60% profit at about 227 and leaving the other 40% in play and sell it at 245. That is about 50% of the depth of the cup.
Bear market, remember? Don't trade on hopes and dreams. Trade the breakout or trade the divergence. We don't have any divergence right now and we sure don't have a breakout, either.
Don't be afraid to take profits along the way.
Trade safely friends!
<3 -CE-
CE - BitDoctor
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CE - BitDoctor
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.