ICX/BTC BINANCE trade. IF Volume Returns WE GET GREAT RETURNS! %
Updated
ICXBTC As requested by Follower, If volume returns this could be a cracker
ICXBTC got of to a positive start and rallied for mid-December to late January where it sold of aggressively for 7 days. The sell of ended at 61.8 Fib retracement (overlaid) which then saw a decisive days buying on high volume. It looked very bullish at this point but from that day price has stayed between the opening and closing day of that bar, and volume has dropped (Orange arrow).
Overall the pair still look bullish, and a buy from current levels targeting the top of the range would be a good play in decent volume. Its still a high reward to risk play with a buy at 0.000459. and a stop loss at 0.000425, with a first target of 0.000555 (lite blue line), and a second of 0.000838 (dark blue line) giving a 3-1 reward to risk ratio for TP 1, and a lot more for TP 2. It just has a bit more chance of losing on low vol.
If I brought down here I would accept the low volume makes for a higher risk trade than usual, and I would close at least 75% at the first target unless volume is lifting when you get there.
Entry BUY 0.000459
Stop Loss 0.000425
Target One 0.000555
Target Two 0.000838
Remember to make dollars your decisions need to make sense. Only follow who you trust. This is a good trade, and if volume came back, allowing you to stay in the trade longer it could become a very nice winner. If volume stays out exit more at TP1.
Please like this post if you found it helpful or profitable, for more ideas feel free to follow.
ICXBTC got of to a positive start and rallied for mid-December to late January where it sold of aggressively for 7 days. The sell of ended at 61.8 Fib retracement (overlaid) which then saw a decisive days buying on high volume. It looked very bullish at this point but from that day price has stayed between the opening and closing day of that bar, and volume has dropped (Orange arrow).
Overall the pair still look bullish, and a buy from current levels targeting the top of the range would be a good play in decent volume. Its still a high reward to risk play with a buy at 0.000459. and a stop loss at 0.000425, with a first target of 0.000555 (lite blue line), and a second of 0.000838 (dark blue line) giving a 3-1 reward to risk ratio for TP 1, and a lot more for TP 2. It just has a bit more chance of losing on low vol.
If I brought down here I would accept the low volume makes for a higher risk trade than usual, and I would close at least 75% at the first target unless volume is lifting when you get there.
Entry BUY 0.000459
Stop Loss 0.000425
Target One 0.000555
Target Two 0.000838
Remember to make dollars your decisions need to make sense. Only follow who you trust. This is a good trade, and if volume came back, allowing you to stay in the trade longer it could become a very nice winner. If volume stays out exit more at TP1.
Please like this post if you found it helpful or profitable, for more ideas feel free to follow.
Trade active
I have just opened a position on this trade.Note
ICX you will see on this chart the volume broke above our arrow and is increasing. We are headed for target 1.
Note
IT was always going to be slow progress, but still progress and we are in profits at the moment. We will need to give this some time.Note
This trade is still developing but we are in profit and volume has been returning.Note
One of the great things about these small trades is how quickly you ca get some profits. We wquickly went to being 1-1 up. Today its consolidating. Has always been a trade with some risk, but still looks okay to me at this stageTrade active
No one else picked this one, thats the difference professional TA makes. For the conservative ones grab a little profit here, and move SL to entry.Note
Your in good profit here so enjoy these profits always remember that.Note
Volume is rising nicely on this trade and we will keep moving
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.