ICX looks weak, but could bounce
Updated
- 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.
- 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. Note
better screen shot...Note
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.
Note
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.
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