Long

$ICX.X Cup & Handle

Updated

I'm keeping a close eye on ICX. According to EW it should have one more pullback which would make for a nice entry before the next wave up. That's not to say it can't break out now as with this cup and handle it retraced about 1/3. I'm personally waiting to see what it does before entering.

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Testing resistance at the top of the cup now. If we break out here I will wait for the first pull back to enter. I'm leaning towards it still retracing for one more wave though. You can see it's close to RSI resistance as well.

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It broke out above the top of the cup. Now testing that range as support. If it holds and consolidates here this should be a good entry.

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We've got support above the cup top.

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We've officially broken out of the cup. :) I'm holding.

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ICX is now correcting because BTC is finally correcting. I've updated my EW count to what I see happening now. Once BTC gets back on a bullish track so will this trade.

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