ICX been a good earner for us over the last few months and after the last week or so we started to get some solid bullish moves that have been very profitable for us.
We wanted to give ICX some time to bleed and settle down and hopefully hold onto a level of support where it was which it seems to have done.
We slowly consolidated and worked our way into a nice descending wedge forcing us to the overall trend line once again.
Looking to trade the break out off trend to shoot for that supply target again, this will be a key level to break.
2 potentially scenarios, we get rejected, double top and drop back to a lower support.....or
we break this supply level and find support about this level and get ready for the next impulse move as we continue on this bullish trend.
Volume has dropped off on this consolidation which is pretty normal and is what generally helps to form those descending triangles are volatility gets lower.
We wanted to give ICX some time to bleed and settle down and hopefully hold onto a level of support where it was which it seems to have done.
We slowly consolidated and worked our way into a nice descending wedge forcing us to the overall trend line once again.
Looking to trade the break out off trend to shoot for that supply target again, this will be a key level to break.
2 potentially scenarios, we get rejected, double top and drop back to a lower support.....or
we break this supply level and find support about this level and get ready for the next impulse move as we continue on this bullish trend.
Volume has dropped off on this consolidation which is pretty normal and is what generally helps to form those descending triangles are volatility gets lower.