IOTX long reversal
Total market:
– Bulls held up total market on weekly chart, looking to see a bullish reversal for the upcoming week
Daily:
– Price currently at strong daily support, bulls coming back into the market
4H:
– Had strong push and close above both MAs
1H:
– formed flag down to the 0.5 fib level which has been respected. Broke out of downtrend line with strong bb break
Trade Management:
– Will be based discretionally
Stop loss: 0.0709
– below VPVR and 0.382 fib level
Take profit: 0.0943
– at 1.618 fib extension of flag, also near prominent resistance / support level on higher time frames
Trade would be invalidated if we fail to break 0 fib level in a timely manor (ultimately invalidating flag pattern , meaning more chop consolidation incoming)

