Hi dear patrons, hope you are well and welcome to the new update on IoTeX (IOTX) coin.
On the weekly time frame chart, the price action has formed a big Cypher pattern. There is also weekly 50 SMA support in the buying zone.
Buy and sell targets:
Buy between: $0.03126 to $0.01796
Sell between: $0.04173 to $0.06685
Stop loss:
The maximum extent of potential reversal zone $0.01796 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 270%, and the loss possibility is 43. However, the price action is at the end of the buying zone. Therefore it is a low-risk trade.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the weekly time frame chart, the price action has formed a big Cypher pattern. There is also weekly 50 SMA support in the buying zone.
Buy and sell targets:
Buy between: $0.03126 to $0.01796
Sell between: $0.04173 to $0.06685
Stop loss:
The maximum extent of potential reversal zone $0.01796 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 270%, and the loss possibility is 43. However, the price action is at the end of the buying zone. Therefore it is a low-risk trade.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Trade closed: target reached
More than 260% rally sofar
Atif Akbar
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.
Atif Akbar
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.