thedailychartist

ICXUSDT breakout setup still in play?

BINANCE:ICXUSDT   ICON / TetherUS
Very weak breakout followed by a move back into consolidation range so this was a no go.

But fakeouts like these can sometimes follow through on the original breakout premise with a vengeance.

So yes, I think this is still in play. But I think it's better to wait for a strong signal before entering. Specifically, I'm waiting for the current candle to close near its high with decent volume . Market might leave me behind but that's okay. There will be other opportunities to buy this if a bull run materializes (e.g. look for a buy above 0.53... etc.)
Comment: Looks legit... but I'd rather wait to flip .53 before looking to enter.

Comments

we defenitly have a big crash on jan and everything gonna fall even dollar ,gold and stocks
have patience brother we can buy deep
+1 Reply
you mean after 0.53 $ we can see a correction ??
i still havent bought icx?
what should i do man?
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@pedijoey, hopefully 0.53 will give me more information on the strength of the breakout. Right now price action looks like a trading range to me (i.e., doji forming, proximity to resistance, etc.), a break above 0.53 could indicate otherwise. We could see correction above .53 or maybe not (i.e., strong bull trend with no pullback). These are short term setups for me so timing is key. Not sure how you trade (short term? long term?) so unable tell you what to do.

Also, if you think there will be a crash/correction, then you should probably wait until you validate or invalidate that forecast. I'm sure you have a basis for that...
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@pedijoey, HTF looks really bullish to me. Just a matter of timing for me...

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i mean sudden pull back will also affect on icx ,and we can have %30 pull back on icx
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@pedijoey, can happen definitely. Question is, will it happen now?
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sudden falling down for about %30 correction will affect everything ,don't you believe?
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@pedijoey, it likely would. Not sure what your point is though...
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