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ICON

ICX going to have another shot ?ICX been a good earner for us over the last few months and after the last week or so we started to get some solid bullish moves that have been very profitable for us. We wanted to give ICX some time to bleed and settle down and hopefully hold onto a level of support where it was which it seems to have done. We slowly consolidated and worked our way into a nice descending wedge forcing us to the overall trend line once again. Looking to trade the break out off trend to shoot for that supply target again, this will be a key level to break. 2 potentially scenarios, we get rejected, double top and drop back to a lower support.....or we break this supply level and find support about this level and get ready for the next impulse move as we continue on this bullish trend. Volume has dropped off on this consolidation which is pretty normal and is what generally helps to form those descending triangles are volatility gets lower.
by Unity-Trading-Group
ICX - 38% Since My Post (Update)Icon has made a nice push up towards two of my target zones since my first post (a price increase of around 38% from the time of my post to the recent top). It has since cooled off a bit and has been consolidating. I also made a video about shakeout tactics (linked below) which explains how whales accumulate before the ultimate breakout. This is something you can use to your advantage as well, if you like swing trading. As for current price action, we could see a bigger pullback here in order to take on that 990-1000 resistance. As mentioned in my other post, my ultimate target was in the 1400-1500 area for ICX, which is an 100% profit gain from my original setup. Time will tell if we can make it there. Right now, ICX seems like it might need to cool off further (RSI overheated, and the Ultimate Oscillator is showing that we may be near a top on the weekly): However, if we do get back above 900 with some volume, we can attempt to break that resistance. I think we may need a deeper pullback first though, judging by the indicators mentioned above. We currently have support at or near the red lines on my chart. This is not financial advice. Just an update on a chart I've been watching, and where I'm seeing this potentially going. -Victor Cobra
by VictorCobra
ICON will it have the legs?ICX has been good to us lately how ever we dropped our trade at that level of resistance there at 750 a week ago with the intentions of buying back on a descent retrace. It didn't drop far or have any major reaction to the BTC dip the other day and bounced off the 38 already and is already testing those highs again. We may have to run 2 different strategies here with this, if we can break this last high i can see a fairly impulsive move to that level of supply purely because of a lack of market structure to the left so i will be looking for a break out trade and trying to catch that last 30% or so. On the other hand on the smaller time frames we could be heading for a double top rejection here and heading back down for that retrace we are after and hopefully its descent enough to come back down to around the 6300 sat mark for a nice bounce off the 618. CCI looks like it may be geeing up for another push but it also needs a cool off from the last swing high imo.
by Unity-Trading-Group
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