matthewmorganjoh
Long

ICX Tighter Channel

BINANCE:ICXBTC   ICON / Bitcoin
177 0 2
Already updating my last ICX Channel for day traders.

The channel still holds true, but it's actually a bit tighter now. I decided to keep the original channel (since it is still holding true) but keeping an eye on the tighter channel for breakouts/breakdowns. The Yellow support line is the original channel. It will most likely serve as a stop loss.

However, if you are conservative and just now getting into the trade - follow the blue!

ALSO:

I am following this on a 5 minute time frame. It works just the same on a 15 minute, but I just prefer to see what the market is looking like at every moment. And Trading View doesn't allow for anything less than a 15 minute time frame. Happy trading!

Trade closed manually: Update:

We broke down on the channel. From the last touch on the channel to the current point is a 618 fib retracement, so it looks like the bots are trying hard to buy up this range, but the selling pressure is too heavy. It's having some trouble breaking to a down trend because of this, but it broke out of the channel. Unless there is a massive breakout, I would say its safe to close positions.

Entrance to the breakdown of the channel was around a 6% gain - not too shabby for the day!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out