Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
Looking at the longer time frame for IOTA, we can see a support level was held at the green box. It's likely that we can see IOTA touch this box several times, forming a higher low to indicate it as support. If this level doesn't hold, I see IOTA moving down to the lower green box. At that range I would ladder my entries all the way to the bottom of the wick. Placing a stop right below the wick.
If you did enter a the first green box you should have taken profit, and be prepared for more downside. Short to mid term i'm bearish on IOTA.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
Looking at the longer time frame for IOTA, we can see a support level was held at the green box. It's likely that we can see IOTA touch this box several times, forming a higher low to indicate it as support. If this level doesn't hold, I see IOTA moving down to the lower green box. At that range I would ladder my entries all the way to the bottom of the wick. Placing a stop right below the wick.
If you did enter a the first green box you should have taken profit, and be prepared for more downside. Short to mid term i'm bearish on IOTA.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price