Long
IOSTBTC - Breakout Strat
(Im a beginner! any and all tips/criticism encouraged. I STRONGLY urge people to not make trades based purely on my analysis!)
MY BUY= 0.00000438
MY TARGET= 0.00000468
MY STOP= 0.00000428 ( have moved it up to 438)
IOST still looking decent. I think it will break to the upside. It bounced off the upper trend line really sharply, basically the as soon as it hit 461 it triggered a heap of sell orders and shot down. Some volume is coming in, tons more sell orders than buy, makes me unsure as to whether IOST has the power for any kind of serious uptrend. I think it needs BTC to go on some level of bullrun to divert some sell orders away.
BTC i think is going to be in a minor uptrend for the time being, but it has been very erratic. It poses some risk with bringing this all unhinged, but i feel its good for a day or 2.
-=-1HR-=-
RSI= 55
STOCH= 58
MACD= its crossed down, has room to move up i think, looking neutral.
-=-4HR-=-
RSI= 55
STOCH= 69
MACD= Looking bullish? Had a cross signaling possible uptrend. Is a little oversold, good sign.
-=-1Day-=-
Looks neutral leaning on the bearish.
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STRAT
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Im deciding to stay in and try to hit my target 1. Not sure if i will stick around on this trade afterwards, just not sure if overall interest/volume is here yet for it to break hard to the top of this ascending channel. But then what do i know?! haha. Been very tempted to take the next 460 right before contact with trend line and vamoose, but think i will try and tough it out on this since many indicators look decent.
MY BUY= 0.00000438
MY TARGET= 0.00000468
MY STOP= 0.00000428 ( have moved it up to 438)
IOST still looking decent. I think it will break to the upside. It bounced off the upper trend line really sharply, basically the as soon as it hit 461 it triggered a heap of sell orders and shot down. Some volume is coming in, tons more sell orders than buy, makes me unsure as to whether IOST has the power for any kind of serious uptrend. I think it needs BTC to go on some level of bullrun to divert some sell orders away.
BTC i think is going to be in a minor uptrend for the time being, but it has been very erratic. It poses some risk with bringing this all unhinged, but i feel its good for a day or 2.
-=-1HR-=-
RSI= 55
STOCH= 58
MACD= its crossed down, has room to move up i think, looking neutral.
-=-4HR-=-
RSI= 55
STOCH= 69
MACD= Looking bullish? Had a cross signaling possible uptrend. Is a little oversold, good sign.
-=-1Day-=-
Looks neutral leaning on the bearish.
---------
STRAT
---------
Im deciding to stay in and try to hit my target 1. Not sure if i will stick around on this trade afterwards, just not sure if overall interest/volume is here yet for it to break hard to the top of this ascending channel. But then what do i know?! haha. Been very tempted to take the next 460 right before contact with trend line and vamoose, but think i will try and tough it out on this since many indicators look decent.
Note
Target 1 reached, nice break, dint dink it cld but eet did.And now... will i take my money and leave? A bit of greed is kicking in. But lets try and throw some logic at this, remove the emotion, think it through.
- btc is holding, looking bullish, only the stoch really is overextended.
- iost 1hr is overextended, the 1day overextended.
- iost 4hr still seems bullish, as if its in breakout mode and wants to go higher.
- iost loves to retrace and accumulate after a runup
... im going to stay in it. The risk reward is pretty massive, it can still go up 15%-17% here, even if it does retrace back to the trendline we have broken.
Trade closed: target reached
Took my profits at 482 a bit before i pumped to 500 briefly. Was gonna stick with it, but eh, got my 10%, been annoying i havent got in on any of these 30%+ coins like ADA, but oh well, i will get mine eventually!And overall IOST been a great trade for me, pretty happy.
BTC looking a bit bearish, could test below 8000, very interesting to see how IOST reacts to a btc drop, i know some ALTs, particularly protocols, people like to pullout of BTC during bearish dips and dump into protocols while they wait for reset.
See if it happens with IOST!
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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.
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.