Hey friends, hope you are well and welcome to the new update on ICON (ICX) coin.
On a long term monthly chart, the price action of ICX has completed the final leg of bullish harmonic Cypher pattern and entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to the Fibonacci sequence of harmonic Cypher pattern should be:
Potential reversal or buying zone: $0.3720 to $0.2557
Fibonacci projection or sell zone: $0.4636 to $0.6829
Stop Loss:
The potential reversal zone area that is up to $0.2557 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 167% and as per above-mentioned stop loss, the loss possibility is 31%.
Note: The idea above is for educational purpose only, do not take it as investment advice.
On a long term monthly chart, the price action of ICX has completed the final leg of bullish harmonic Cypher pattern and entered in a potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to the Fibonacci sequence of harmonic Cypher pattern should be:
Potential reversal or buying zone: $0.3720 to $0.2557
Fibonacci projection or sell zone: $0.4636 to $0.6829
Stop Loss:
The potential reversal zone area that is up to $0.2557 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 167% and as per above-mentioned stop loss, the loss possibility is 31%.
Note: The idea above is for educational purpose only, do not take it as investment advice.
