ICON / ICX - How To Trade

The price is getting pressed in to apex and showing real pressure. This pattern is known as The Descending Triangle which is indication of Bearish Price movement. At the moment it can break either way and it is critical to wait for proper breakout before opening a position on this trade. Breaking above from Downtrend Line and MA50 could indicate price going further up. Also RSI & CCI are supporting upward movement and the price is showing positive divergence. If the price doesn't manage to break Downtrend Line then another good buying opportunity might occur near Demand Zone.

This trade requires patience and there is no space for impulsiveness. What I mean with proper breakout is that oscillators are in favor of this break out and not against it. Also if you end up buying way too early you end up losing money or waiting a long time until the price reaching your buy target again.

Many of my followers requested a chart for ICON and here you go!

If you need any help with trading, recommendations or where to search basics just feel free to leave me DM -5.53% 0.17% in here or in my twitter. I try to respond ASAP! :)
Happy trading!

Things to Remember:

• Stop-loss orders are strongly recommended.
  
• Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
  
• Do your homework before investing.
  

DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.

Yarr The Pirate Crypto Cat

Kommentar:

Update on ICX: 1h is showing Bullish Divergence which is supported by Histogram & RSI. Price slightly touched Demand Zone and is now showing signs of reversal.

Kommentar:

Just broke out of the Ascending Triangle and likely continue upward movement.