IOST Inverse Head and Shoulders (HTF) PART 2
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Our target was hit in our first chart for IOST.
We now need to look for a weekly close above the resistance and turn it into support. We can then work in this new channel forming with upper targets in the green box. Taking profit anywhere in this region will be considered a win.
Looking for a great/perfect exit will require further analysis on a lower time frame (LTF), but for now, the green box is roughly the target.
Thanks.
We now need to look for a weekly close above the resistance and turn it into support. We can then work in this new channel forming with upper targets in the green box. Taking profit anywhere in this region will be considered a win.
Looking for a great/perfect exit will require further analysis on a lower time frame (LTF), but for now, the green box is roughly the target.
Thanks.
Note
This never closed above and therefore the trade setup was invalidated.
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