ICP - Keep A Close Eye On This!
ICP has almost finished its bearish ABC corrective wave. Wave C consists of 5 waves and we are in the 5th wave now, which appears to be a descending wedge. A descending wedge is often a bullish reversal pattern.
The confirmation required is a strong bullish impulse breaking the wedge. For entry we'd require a correction to follow where we can mark up clear invalidation levels.
Trade idea:
- once confirmation appears, enter with stops below the correction
- Targets: 37, 57, 100, 150, actively manage the rest
Will update this chart when a breakout appears and we can actively monitor it for the best entry.
Goodluck!
The confirmation required is a strong bullish impulse breaking the wedge. For entry we'd require a correction to follow where we can mark up clear invalidation levels.
Trade idea:
- once confirmation appears, enter with stops below the correction
- Targets: 37, 57, 100, 150, actively manage the rest
Will update this chart when a breakout appears and we can actively monitor it for the best entry.
Goodluck!
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