ICXUSDT trade ideas
ICON (ICX) Big Pump Ahead After This DumpHey friends, hope you are well and welcome to the new update on ICON coin.
Previously I shared idea on ICX coin where I told you that the priceline is at the support of a down channel and up to 367% move is expected. And finally, by the grace of Allah the most high, the price action of ICX started a bullish rally and produced more than 300% rally as predicted.
The previous idea:
If we take a look at the live chart then it can be observed that since start of the 2020 the price action turned bullish two times. 1st in the month of January when it produced more than 424% bullish rally and second when it turned again bullish from March to Aug 2020 and produced more than 550% rally. Now the price action is again moving down. So far it has retraced more than 61.8 Fib level and moving towards 0.786 Fibonacci.
After the ICX team updated their road map on 1st Oct and announced the Gangnam Testnet at the end of Oct, it was expected that the Month of October will be bullish for ICON coin. But the priceline continue to move down and despite this great event, the price action was not affected.
However, I have observed that the priceline of ICON coin may move more down but soon there is a 600% pump expected. So let’s try to understand how much it can be moved more down and when it can start the rally to the upside and what should be the targets.
If we take a look on the daily chart then candlesticks of ICX with USD pair has formed a falling wedge pattern and further more ups and down movements can change this pattern from wedge to pennant soon. The 50 simple moving average is moving down to form a death cross with 200 SMA. And this cross can increase the sell off soon.
Now if we take a look at ICX with USD pair on the long term monthly chart, then it has completed a bullish Cypher pattern and entered in potential reversal zone.
Even though the priceline has completed a Cypher move in US Dollar market but I would not suggest you to place your buying order at the moment. Because the price action of ICX coin is completing the final leg of bullish Shark pattern in Bitcoin market on long term monthly chart. Therefore I would suggest to wait for the completion of this Shark’s leg and let the price line enter in the potential reversal zone of this harmonic move.
The second thing I would suggest before buying the ICON coin we should keep an eye on the movement of exponential moving averages with the time period of 10 and 21 on daily chart. At this time it can be seen that these EMAs are in bear cross. Once the price action will be in potential reversal zones of Cypher and Shark as mentioned above and the EMA 10 crosses up the EMA 21 then we can place our buying orders and set the stop loss the maximum extent of potential reversal zones.
The buying and sell targets as per Fibonacci sequences of Cypher and Shark harmonic patterns can be as below:
Buying and sell targets of ICX with US Dollar pair:
Potential reversal or buying zone: $0.3720 to $0.2557
Fibonacci projection or sell zone: $0.4636 to $0.6829
Buying and sell targets of ICX with US Dollar pair:
Potential reversal or buying zone: 0.00001981 to 0.00000742 btc
Fibonacci projection or sell zone: 0.00003102 to 0.00005609 btc
Conclusion:
Even though the priceline of ICX is forming perfect harmonic moves, but we should strictly take care of stop-loss because if the priceline will break down the PRZ levels then it can turn more strong bearish.
Note: The idea above is for educational purpose only, do not take it as investment advice.
ICXUSDT formed bullish Cypher | Upto 167% move expectedHey friends, hope you are well and welcome to the new update on ICON (ICX) coin.
On a long term monthly chart, the price action of ICX has completed the final leg of bullish harmonic Cypher pattern and entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to the Fibonacci sequence of harmonic Cypher pattern should be:
Potential reversal or buying zone: $0.3720 to $0.2557
Fibonacci projection or sell zone: $0.4636 to $0.6829
Stop Loss:
The potential reversal zone area that is up to $0.2557 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 167% and as per above-mentioned stop loss, the loss possibility is 31%.
Note: The idea above is for educational purpose only, do not take it as investment advice.
ICX Back to support zoneICX back to support zone. This has been tested few times already.
Expecting to go up soon.
All details in chart.
Strong ICX StartICX chart have a very string W pattern and jump soon.
its have a 3 target and first target for that is very easy to reach that.
ICXUSDT Pump Coming?ICX break the downtrend line and retested it. The coin tested the major support zone and bounced back. This is a good buy for the next few days and will give handsome profits.
Buy Zone: $0.36-$0.38
Target: $0.42- $0.45 - $0.50 - $0.55 - $0.65 - $0.80
Stop Loss: $0.33
ICX / USDT. Trying to breakout!Looks good, now trying to break falling wedge. Targets: 0.45, 0.54, 0.68.
ICXUSDT ------->>> Andrews PitchForkHey guys
As shown in the chart, the price is moving towards the midline of the Andrews PitchFork. If the price crosses the middle line, it can increase to the upper line of the fork, where the resistance area of 38.2% Fibonacci is located.
ICON ICX/USDT Bullish. LONG. Breakout soon.ICON looking like a breakout is imminent. Great risk to reward almost 1:5. There are multiple targets that have been hit. However be aware there is a big algo target wanting to take this a bit lower first. Play safe
Entry 1: Below 0.3850
Stop: 0.3350
Entry 2: Wait for breakout, candle close and retest of range
Stop: 0.35
Entry 3: 0.3080 Algo target
Stop: 0.2990
Target 1- is 0.5 Fib from the first lower high. This is a technical pivot used by the algos:
0.5320
Target 2- is 0.5 Fib retrace from the high, this is also in confluence with the 0.618 Fib from the first lower high:
0.5751
1st lower High, Technical Pivot:
Algo Target:
0.618 Measured Move Projection from 1st Lower High Technical Pivot:
3D Ichimoku:
1W Ichimoku Testing Strong support:
Warning Algo Target @ 0.3071:
1D Chart
Bullish Divergence on RSI and MACD
Warning High Volume Node @ 0.3338 Has not yet been tested
Will the Buy side Algos be lost @ 0.3197 (0.707 Fib) or Will there be a liquidity grab?
Never Trust. Verify.
D.Y.O.R . Not Financial Advice, Just My Observations.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key . Capital preservation above all else.
ICX to 1$ICX is on support line, if this support holds, ICX can go up 1$, but if it breaks the support it can down. I opened a long with the stop loss below the support. I will change the long to short if it goes down.
ICXUSDT: Higher low forming?Really nice looking chart on this coin. Respecting the levels so far and looking bullish with a potential higher low forming right now. Let's see if we can form a higher high from this price. Not a really good enough probability bet (for me) right now but if buyers break 0.45 (on a daily closing basis), things could get interesting...
ICX USDTat 200 ema support.. most probablity it will follow btc chart and break this support line...
ICX / USDTThe near support is 0.365 , break this level I think it will go lower
Try to looking re entry area at 0.24 - 0.28
Icon ICX - Head and Shoulders to the upsideThis coin have so much potential from fundamental page. I see Head and Shoulders forming on 1h timeframe, also with trendline / falling channel. ABC correction is completed and also the right shoulder is in the same position as left shoulder, which is great. If you are interested in signal channel on tele-gram, please contact me @RobertWise. Bitcoin dominance is falling, that is also very good for the price of this coin.
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Icon has potential to see a 17% move!ICX has found support at previous support area and posted higher lows.
I expect the price to retest the level of 0.4625 which would mean a 9% profit.
Good luck with this trade!
Tibor
ICXUSDT AnalysisBoth EngineeringRobo and I are bearish about ICX at the moment. No trade is recommended.
If you are interested in buying:
- You can await EngineeringRobo buy signals.
- You can buy at the 0.382 or 0.182 support level
- You can buy if candles open close above the uptrend line.
After you buy, watch closely for EngineeringRobo sell signals! If you want to use EngineeringRobo, DM me!
