oofd

ICX looks weak, but could bounce

Long
BINANCE:ICXBTC   ICON / Bitcoin
- Price now doing a pull back after breaking out of the bearish head and shoulders pattern.
- volume declining as price creeps upwards
- bearish divergence: price making higher highs but oscillator making lower highs
- Overall looks weak from here hence expecting price to drop.

However, uptrend is still intact, hence I'm watching how it will bounce from support. Might enter the long trade if I see bullish divergence as price approaches support, though I expect it to be a short one.
Trade active: bullish divergence as price approached support, orders filled.
Comment: better screen shot...
Comment: Got stopped out, and it went down to the next support level. I was thinking of getting out when I saw the pennant forming since it tends to be a continuation pattern but I didn't in the end. Oh well, perhaps a lesson to be learned. But now I'm back in again.
- there's bullish divergence on 1h and also forming on 15 min.
Comment: still in the trade. Was in the red for awhile and averaged down. There was just bullish divergence everywhere, in the green now :)
Trade closed manually: Forgot to update but I had a trailing stop loss and closed in profit.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out