Trade Recommendation: IOTA | Hacked: Hacking Finance
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Analysis

Trade Recommendation: IOTA

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Trade Recommendation: IOTA

Introduction

This article was posted on Saturday, 13:49, UTC.

If we look at the 1H chart, we’ll see a double bottom chart pattern. It belongs to a reversal group of chart patterns. If the market bounces from the uptrend line and 0.80000 support level, we’ll have to wait for a price breakout above the local swing high. It will be a confirmation of the double bottom pattern and further upward movement. Pending orders for buy should be placed at 0.92000 level. Stop orders must be below 0.758000 level. Profit targets are at 1.0000 and 1.10000 resistance levels. Also the part of trading volume can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Buy: 0.92000
Stop: 0.75800
Profit Targets: 1.0000 and 1.10000

The trading signal is based on Bitfinex chart.

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Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Comments
  • user

    AUTHOR adityabhargava196

    Posted on 1:53 pm August 19, 2017.

    Double Bottom is better used for day or week charts and ideally there should be a larger gap between the two bottoms .
    http://www.investopedia.com/terms/d/doublebottom.asp

  • user

    AUTHOR Dmitriy Lavrov

    Posted on 5:32 pm August 19, 2017.

    All chart patterns, like candlestick patterns, can be used on hourly and daily time frames. The difference is just in quality.

  • user

    AUTHOR btc4083

    Posted on 7:06 pm August 19, 2017.

    great job

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