}
Hey friends, hope you are well and welcome to the new update on the ICON (ICX) coin.
On a long term monthly chart, the price action of ICX has completed the final leg of the bullish harmonic Cypher pattern and entered a potential reversal zone.
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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
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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 the above targets, this trade has a profit possibility of 167% and as per the above-mentioned stop loss, the loss possibility is 31%.
Soon I will post a more detailed analysis on ICX.
Note: The above idea is for educational purpose only, do not take it as investment advice.
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