IRISnet (IRIS) - Bull flag breakout

On the above 4-day chart price action has corrected 60%. A few reasons now exist to consider a long position. They include:

1) Price action and RSI resistance breakouts.

2) Price action finds buyers at the Fibonacci 0.236

3) Price action prints support on past resistance. Look left.

4) The bull flag breakout. The flagpole measure a 200% move from the breakout point.

Is it possible price action falls further? Sure.
Is it probable? No.

Ww

Type: Trade
Risk: <6%
Timeframe for long: Yesterday
Return: 200%

Transaction en cours