SamLazno
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Set up for breakout - EMA Crossing

BINANCE:ICXBTC   ICON / Bitcoin
Hello everyone and welcome to this analysis on BINANCE:ICXBTC .

Last day's trade on BINANCE:IOTABTC proved itself successful. Let's carry on with the same strategy.

Reminder on EMA crossing strategy:
-RSI under 70
-EMA 26 crosses EMA 52
-Low volume on MACD (optional)
-4 hours chart

As you can see the technical tool that I am using and has been rewarding to me is based on the EMA 52,26,12. A crossover of the EMA 52 and 26 is a sign of a beginning of a trend. In this case you can see that the EMA 26 has crossed the EMA 52 representing a start of a bullish short to mid term trend upward. Although the crossover was made few hours ago, it still confirms the start of a bullish pattern .

In order to find an entry, you can switch the timeframe of the chart to 1 hour and then 15 min. That will help you determine a momentum for an entry point. Here if you take the 15 min chart you will see that we are about to have a bullish crossover on the MACD which is usually what I use to assess whether it is a good time to get in.

Aggressive approach:

Long at market
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)

Conservative approach:

Long at EMA 12 on the 4 hour chart
Stop loss just under EMA 52 on the 1 hour chart
Take profit under resistance level (dotted yellow line)


**This is my set up and I am sharing that with you for educational purpose. This isn't, in any case, financial advice.**


評論: History shows that ICX is showing itself not resilient to a spike in price of BTC. Closed my longs at a -0.70% loss.
評論: I recommend trading against USD when BTC spikes.
so I was in ICX but exited because i see how sensitive it is wen BTC rallies. Usually wen BTC rallies, Alts start to bleed. wat would be your advice (and I know youre not a financial advisor)? still enter ICX even though BTC may kill its momentum?
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SamLazno AsmaHassan
@AsmaHassan, ICX has shown itself not resilient to a spike in price of BTC. Indeed it is safer to not enter at this point. I closed my position to a -0,70% loss.
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@SamLazno, ahhhhh sam i wish i didnt enter either! im at loss...ICX has been sooooooo soooo sensitive to BTC more than any ALTS so far
+1 回覆
But isnt this also a Rising Wedge?
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AsmaHassan diamondeye966
@diamondeye966, honesty on the 4hr, i see a very clear cut inverse head and shoulders
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