IOTA/USD Update!
IOTA found support at the $0.75 level and is now consolidating. We can see proof of this by the formation of a pennant pattern. These patterns usually follow the overall previous trend (In this case UP!). I am looking for a nice long position here, but since you can't be 100% confident when it comes to trades I usually follow the following guidelines before opening a position:
- Wait for the Break Out
- Open your position by following the trend
- Set your target limits
*Always make sure to set stop losses at 5% and profits at 10% or higher - Wait for the market to take its course
- Make adjustments accordingly
Happy Trading!
CryptoTA
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.