Independence Contracting Drilling in Impulse. IDC

Rykin_Capital Updated   
NYSE:ICD   Independence Contract Drilling, Inc
A nice impulse in not even near completion here. We are looking to project a Wave 5 here in the third degree, so that potentially leaves quite a bit more profit taking in the future. Although overall view is a bullish one here, the most immediate Wave 4 is not yet complete, thus a likely further downturn can be expected before more breaking to higher highs.

We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: stop reached


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.