icx low risk to high reward
This is my own opinion and purely for entertainment purposes.
ICX is in accumulation phase. It just broke the long time resistance and retraced back to it on the upside of that trendline of the triangle.
In red is the recent resisitance. In case the triangle fails and it doesnt brake out heavily to the upside my expectation is that it will bounce of the red resistance line making this a low risk to high reward ratio.
I get confirmation in the ichimoku is the resistance is getting weaker and the support only increasing in the coming days making the risk even lower going forward.
On the rsi support seems to be found and its creeping towards the 60level.
very open to feedback on the chart or misinterpretation, please be kind.
ICX is in accumulation phase. It just broke the long time resistance and retraced back to it on the upside of that trendline of the triangle.
In red is the recent resisitance. In case the triangle fails and it doesnt brake out heavily to the upside my expectation is that it will bounce of the red resistance line making this a low risk to high reward ratio.
I get confirmation in the ichimoku is the resistance is getting weaker and the support only increasing in the coming days making the risk even lower going forward.
On the rsi support seems to be found and its creeping towards the 60level.
very open to feedback on the chart or misinterpretation, please be kind.
Penafian
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