TD Sequential shows a down trend but the general trend is upward
This is usually what a Elliott Wave study looks like.
Simply explained. We have have 2 Elliot Waves. One is the main one and has confirmed a retracement to 38.20% and second pull back to 61.8% to the spot. Meaning the 3rd leg of First extension is on the making. The second wave (yellow) has retrace successfully to 61.8%. If we use the FIB levels and the Elliott waves we have to assume the wave 3 started around price 65-68. The support of the upper trend line has been sustained by lot of points. If the price fells back at 65-68 levels then we are making a small double bottom to continue up. I don't expect price to fall back to 55 levels which would void the Elliott Wave pattern. This is a long target with probably a lot of other retracements.
This chart for Educational purposes only, NOT TO MAKE SOMEONE BUY OR SELL OR TO MAKE ANY FINANCIAL DECISION.
Entry 68-71
target 99-100
Good luck
Note. Sorry about the messy chart but I hope as you go through this chart you understand how important is to do studies for smart financial decisions. How important is to understand Elliott waves and FIB levels.
Thank you.
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Selling target approaching. Dont miss your first sell..... 90-92
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ICX holding its support pretty well. :). I like it.
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We all know what happened. After hitting first target we just slide nicely down with btc. I have been trading this coin a lot with at least 20% daily wins. Recomende. entry now at 45 - 55 level price. will update sell price soon.
thanx for supporting us by your charts.. what is the new selling targets on your opinion?
Ecua_Trader
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@GurhanErgun, last rally was just shy of 90. I know there will be some resistance at 70s levels once that is broken I would sell it at any point before retracement. I would say 85s to be safe and get some quick profits. I would also watch btc price movement just because icx follows pretty close. :)
You are welcome.
supremedev
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Just wondering, why did you not count the first run up from the 1000 to 5000 range a valid wave thus making it the first wave of a complete 5 wave?
Ecua_Trader
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@supremedev, I did but not in this study. The supreme wave is not part of this chart. Thanks for the clarification
Ecua_Trader
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@supremedev, supreme wave is part of this chart** all sub waves confirmed 5 wave count and abc but the last one which is on the works.