ICP short
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Total Market:
- Falling back during consolidation, expecting another retest of support
Daily:
- Broke below daily support
4H:
- broke below support, retested and turned resistance, got rejected @ 20 EMA & formed a bearish engulfing candle close. Current 4H candle currently rejecting higher with wick
1H:
- Had Bearish engulfing breaking out of short term uptrend line
Trade Management:
- Plan on adding to position upon breakout of low / 1.0 fib extension level
Stop loss: 18.81
- Inside of strong previous support, above local high
Take profit: 13.44
- 1.618 fib extension level (all time low so dont have price to the left to use as a potential target point)
- Falling back during consolidation, expecting another retest of support
Daily:
- Broke below daily support
4H:
- broke below support, retested and turned resistance, got rejected @ 20 EMA & formed a bearish engulfing candle close. Current 4H candle currently rejecting higher with wick
1H:
- Had Bearish engulfing breaking out of short term uptrend line
Trade Management:
- Plan on adding to position upon breakout of low / 1.0 fib extension level
Stop loss: 18.81
- Inside of strong previous support, above local high
Take profit: 13.44
- 1.618 fib extension level (all time low so dont have price to the left to use as a potential target point)
Nota
Pulled half of position @ 17.2, total market could continue to exhaust to the upside. ICP respected daily bottom BB MA, and could potentially see exhaustion to mid level MA or daily support. Wanted to secure some profits in case price test a zone outside of my stop loss level
Penafian
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