Time to watch ICON.
I will gamble and wait for a another lower low, and potential double bottom.
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ICON made a down correction with almost -61.8% from the previous bullish wave and that is enough and 0.618fibo stops the blood now and this level is good for me to enter ICX again.
Entry from now to 0.286
Target should be 0.39 as an initial target and I will update again.
Stop-lose: closing two daily candles or weekly candle under 0.255
recommended risk is...
FEB 17, 2020:
* Finished my thoughts on BITSTAMP:BTCUSD from yesterday and worked down to the 4HR charts.
* Generally looking for a short trade to set up against old highs (RLZ) heading in to either Tuesday or Wednesday London Kill Zone.
* Alternatively I think it's possible for this pullback to be a trap and I see a fair chance of BTC...
Thanks and best regards!
With my TA time frame you will hold below:
H1 hold for 1-3 days
H4 hold for 3-7 days
D1 hold for 1-3 weeks
W1 hold for 1-3 months
Support me if you have profits with my TA:
I am wondering what will happen to ICX when we look at the 4-hour chart.
If we look at the chart we see that the volume is fallen and the MACD is currently bearish.
On the other hand, ICX remained above the 50-EMA despite the huge sell-off after the 300% pump.
I am waiting for more clear signs to take a position. What do you guys think?
ICON topped in an critical old support area, which is now new resistance. RSI is to overbought.
I expect a correction towards at least the first green box (0.618 fib probably). if this box doesn't hold, then the 2nd green box will serve as support.
An update of my trading plan
One month after the first analysis, let’s have an update of the trading opportunity we had.
First of all, we also had a weekly higher high; normally the long term downtrend is finished; really good news for investors and bag holders.
The price took the right direction; the technical analysis was not so bad but it wasn’t the toughest...