ICON - The path from here
Believe we are still in a Primary wave 3 for icon with plenty of room to move up.
1. Primary Waves 1-2 would bring the end of wave 3 around the 7000 mark
2. Looking at subwaves in wave 3 would bring the end of wave 3 to 8372 and it just does not look like ICON will get there
3. Drawing a parallel channel across the entire expected move gives us a clearer picture of what may happen with this chart
4. Primary Wave 3 Subwaves - Wave 1 looks to be extended so we should not expect an extended wave 3 or 5. Wave 3 can not be the shortest so must be longer then subwave 5. This leaves us falling short of the 1.618 extension on the subwaves but at or above the 1.618 extension on the primary waves
6. Assuming parity between primary wave 1 and 5 we reach final target
Buy in: Around the 4600 mark. Laddering down to 4100 would minimize risk if bottom of channel gets tested.
Target 1: 7000
Target 2: 8045
Target 3: 9435
1. Primary Waves 1-2 would bring the end of wave 3 around the 7000 mark
2. Looking at subwaves in wave 3 would bring the end of wave 3 to 8372 and it just does not look like ICON will get there
3. Drawing a parallel channel across the entire expected move gives us a clearer picture of what may happen with this chart
4. Primary Wave 3 Subwaves - Wave 1 looks to be extended so we should not expect an extended wave 3 or 5. Wave 3 can not be the shortest so must be longer then subwave 5. This leaves us falling short of the 1.618 extension on the subwaves but at or above the 1.618 extension on the primary waves
6. Assuming parity between primary wave 1 and 5 we reach final target
Buy in: Around the 4600 mark. Laddering down to 4100 would minimize risk if bottom of channel gets tested.
Target 1: 7000
Target 2: 8045
Target 3: 9435
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