$ICNT Short setup: the new high got rejected, the inducement below is the target
Short 📉
📍 Entry 0.1206
🛑 SL 0.1301
🎯 Target 0.1015
Retrace of 75%, then price went back up for the old high. The inducement at 0.1015 is still untouched. That break of 0.1164 was small (9.0%), a quick poke and a sell-off from 0.1269. Looks like a failed breakout to me. Taking the short from 0.1206, stop 0.1301, target 0.1015 where the inducement sits. About 1:2.
DYOR.
👆 For the real futures chart tap the tag at the top, the tag at the bottom shows the spot chart
#ICNT #FuturesTrading #CryptoTrading
Short 📉
📍 Entry 0.1206
🛑 SL 0.1301
🎯 Target 0.1015
Retrace of 75%, then price went back up for the old high. The inducement at 0.1015 is still untouched. That break of 0.1164 was small (9.0%), a quick poke and a sell-off from 0.1269. Looks like a failed breakout to me. Taking the short from 0.1206, stop 0.1301, target 0.1015 where the inducement sits. About 1:2.
DYOR.
👆 For the real futures chart tap the tag at the top, the tag at the bottom shows the spot chart
#ICNT #FuturesTrading #CryptoTrading