Hello, welcome to my ICX analysis!
For ICX we've started off making a cup and handle, completed the retrace, then moved into a wedge/pennant structure after a brief run. The overall target has not been completed for ICX, therefore, after we break the pennant's upper trend we should see a decent run. You can also see wicks down where BTC has dropped making it test supporting levels.
Green zones are targets, an entry currently would be smart to grab it before it travels to the top of the pennant and challenges a break out giving time for you to react and hold till you see fit. If it is rejected then you can still sell for a profit. An appropriate stop-loss would be below the support line or below the pennant.
The time frame is on 2 hour so you can see the 2 hour MACD bullish cross.
Feel free to join in on the discord for conversation and ask to be added to notifications if you'd like to be notified of posts.
The link is still available on my profile, good luck trading!
For ICX we've started off making a cup and handle, completed the retrace, then moved into a wedge/pennant structure after a brief run. The overall target has not been completed for ICX, therefore, after we break the pennant's upper trend we should see a decent run. You can also see wicks down where BTC has dropped making it test supporting levels.
Green zones are targets, an entry currently would be smart to grab it before it travels to the top of the pennant and challenges a break out giving time for you to react and hold till you see fit. If it is rejected then you can still sell for a profit. An appropriate stop-loss would be below the support line or below the pennant.
The time frame is on 2 hour so you can see the 2 hour MACD bullish cross.
Feel free to join in on the discord for conversation and ask to be added to notifications if you'd like to be notified of posts.
The link is still available on my profile, good luck trading!
Comment:
We're either making a small inverse head and shoulders here or getting ready to move out the base of the wedge. A safe entry would be when the neck line is broken on the fully formed inv. H&S