IMX has broken down, time to wait.It is now time to sit on our hands and wait for a good entry for IMX.
This rising ascending wedge technically wants to break down (and it has), ultimately constituting a bear flag pattern, that will now continue the preceding down trend.
If bitcoin were to nuke downwards, then the local low here (bottom of the range) would be a great place to sit.
Option 1 and option 2 make sense to me for longs, but I would argue that they sit a bit to close to then stay in them for any length of time. (Quick scalps here).
IMXUSDT trade ideas
IMX buy zoneIMX has been performing very well over the past few days; it is very bullish.
The green box below is where to long; on a retest of the diagonal resistance (now support), and the horizontal price action below (I like the middle of the wedge serving up as support. Below that you have the rising support line below, which would be the last line to take longs and where you will get the best risk reward.
Best of luck everyone!
IMX back inside the wedgeIMX has bounced back inside this wedge, causing a takeout to the downside and a great long buying opportunity.
To reduce risk we could sit at the support level ~ 0.677 with a stop just below (invalidation point.
Targets wise, first stop you have the historical price action around 0.730, which also lines up nicely with a 0.618 retracement of the recent leg down.
Above that you have the diagonal resistance and then above that (hopefully after a breakout) you have the horizontal price action resistance ~0.8
Clear trade idea with clear stops. :-)
IMX Long - INH&SIMX has had some good fundamental news relating to a partnership with MasterCard lately.
Looking at the chart, Im observing the formation of a possible inverse head and shoulders pattern, with the right should right now forming (hopefully). Inside the right should is a mini inverse head and shoulders if you go to. a lower time frame.
Price targets on the chart.
Watching what bitcoin does closely obviously but the IMX/BTC pair looks healthy.
IMX - Long after false breakdownReasons to take long
⭐️ Accumulation 15 days
⭐️ Formation is clean
⭐️ We are in the end of formation
⭐️ Recently collected liquidity
⭐️ Range is getting smaller
⭐️ 4th touch
⭐️ 50 ATR
Will enter when price squeezes to the level on 5m timeframe, the base will form and the strip will get faster.
If you don't understand the previous sentence, just use swing stop-loss 3-5%
Fix profit by parts:
1% - 1/3
2% - 1/3, stoploss to breakeven
What's left, hold to the maximum
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
IMX the corporate future of NFT's?Fundamentals:
+ NFT derivative exposure
+ Disney, Marvel and the ESL building on Immutable X.
+ Coinbase portfolio.
+ Ready to use API
+ Games such as Guild of Guardians and Illuvium currently partnered.
- NFT and Gaming are novel markets within the crypto sphere. Still somewhat unrelated in a market populated by investors and not gamers or actual users.
- Current Risk-Off environment unlikely to reward Risk-On/Start up tokens.
Opinion:
Downtrend could be breached and a TP for risk-reward seems appropriate. TP1 looks attractive.
This is not intended or made to constitute any financial advice.
Notes on how I personally use my charts/NFA:
Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic.
Just my personal way of using this. This is not intended or made to constitute any financial advice.
This is not intended or made to constitute any financial advice.
FED Macro Situation Consideration:
All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over.
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IMP Scalp long - Potential after accumulation is huge!⭐️ BTC locally bullish
⭐️ Market is in panic
⭐️ We are in the end of formation
⭐️ Accumulation 6 days
⭐️ 4th touch
⭐️ Formation is visible on daily timeframe
⭐️ Volume at bottom
⭐️ Over VWAP
Will enter when price squeezes to the level on lower timeframes, the base will form and the strip will get faster.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
IMX/USDT LONG SCALP SETUP!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this IMX/USDT TRADE setup. IMX looks good here.
IMX is breaking out from the broadening wedge pattern and a retest is also done. Expecting a 25-30% move to the upside. Long now and add more in the dip.
Entry range :- $1.54-$1.62
Target1:- $1.68
Target2:- $1.76
Target3:- $1.84
Target4:- $2.0
SL:- $1.46
Use low leverage (4x-6x)
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