IMX looks bullish (12H)The IMX pair has hunted a strong origin of movement, which is the key factor behind our bullish outlook on this coin.
After the hunt, this strong origin broke the trigger line, forming a bullish CH on the chart. Now, as the price pulls back toward support zones, we are looking for buy/long positions.
The targets are marked on the chart.
A daily candle close below the invalidation level will invalidate this analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
IMXUSD trade ideas
IMXUSD - LONG 4x - 12x Return ( Don't Miss This Opportunity) IMXUSD looks like it's setting up for a great long opportunity.
Price has been at this level of $0.60 multiple times over the last 3 years.
Can price go lower? YES
The next level will be $0.20
Target One: $2.60
This is a buy an hold opportunity.
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A heads-up only if you trade Crypto. Bears r @ the door
Hey, I was going to try not to write anything today, but it seems when you got 'the-bug' its' a bit like overtrading. Hard to stop. But therein is how I trade less without compulsiveness, I write about trading and although some of it is self-serving, most of my writing is not geared that way, but I try to help and provide an occasional good setup to trade. Maybe you realise that by now if you are a regular reader of mine. Maybe not as well.
But a big digress I make, Cryptocurrency positions I sold out of recently, I was heavy in them in my 2 accounts, here is the thing with Crypto, if Bitcoin sells off on a particular day then that may trigger a lot more Crypto's to sell as well. You see, their chart patterns, not all but many will mirror each others'.
For example, the daily chart for BTCUSD is very bearish at the moment. Pull up a daily chart on MACD, I remove the histogram, what you have is a very high MACD line that is well above zero, that is Crossing-down on the Signal line which is also high like the MACD. You know that classic tipping-over bearish MACD image. As far as i'm aware, that's the Daily that needs to be sold very soon unless it stops crossing over and down on the signal line. I will provide an example.
BTCUSD, DOGE, Sol (over 4% off today) and many many other share this weak daily chart at the moment, it is particularly problematic if the weekly chart is the same because it moves slower but the bears have plenty of time to enter over the course of the next week.
Don't get caught out, when Cryptocurrency moves against you, especially if you have multiple different positions all sharing the same bearish chart, well it can put you into a margin call quickly. Theres a mammoth crypto called XRPUSD, guys don't short it because as I found it, it will quickly eat you up because its got a huge margin. Never buy more than 100 at a time as well, because when it moves against you, it will also take you into the red very quickly. Think trading the XAGUSD but 5 x worse.
But here is a Crypto thats chart looks good at the moment. In other words, not overbought. Theres plenty still around to buy, they are generally the smaller ones that have just risen to their 200EMA's on daily.
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IMX โ Immutable Descending Wedge Bullish Pattern. Time to Long?IMX has been in a descending wedge pullback after a three-legged bull run. This appears to be a textbook long setup, but is it?
How do we trade this? ย ๐ค
The long setup in front of us is reasonable, but there are a few data points in our way. What's in favor of a long position is the descending wedge pattern after a three-legged bull run. The pullback has three pushes down with some strong buy bars, signaling upward pressure.
However, we are still below the Daily 30EMA and a distance from the Support Zone top at $1.49 and the Daily 200EMA at $1.35. You can argue that the third bounce off the descending wedge support is out low and we can place our stop loss there, and that is reasonable. I am suggesting exactly that trade is reasonable after a break of the Daily 30EMA and a re-test of the descending wedge resistance as support. The stop loss can be placed below the previous wedge low of $1.70 with a profit target at a 1:1 Risk/Reward Ratio of $2.414.
๐กย Trade Idea ย ๐ก
Long Entry: $1.990
๐ฅ Stop Loss: $1.566
โ
Take Profit: $2.414
โ๏ธ Risk/Reward Ratio: 1:1
๐ย Key Takeaways ย ๐
1. Three pushes up in a bull channel.
2. Descending Wedge bullish pattern with three pushes down.
3. Strong bull signal bars on every wedge push.
4. Suggested to wait for a break of Daily 30EMA and a re-test of wedge resistance as support.
5. RSI at 48.00 and above the Moving Average, supports long bias.
๐ฐ Trading Tip ๐ฐ
The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades.
โ ๏ธ Risk Warning! โ ๏ธ
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like ๐ and Follow to learn more about:
1. Reading Price Action
2. Chart Analysis
3. Trade Management
4. Trading Psychology
IMXUSD This pull-back is the best buy entry.Immutable X (IMXUSD) has been rising non-stop since the January 23 Low and is now on a new 2 year High! However, the 1D RSI's Bearish Divergence, the entry on the Diagonal Resistance Zone since the June 2022 High, as well as the similarities with the previous Higher Highs formations, call for a short-term pull-back.
As long as that is contained above the 1D MA100 (green trend-line), we will buy it and target the All Time High Zone at 5.000.
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IMMUTABLEX #IMX to outperform #ETH by 3XCall it a 2024 Prediction
(Based on a technical foundation ofc :))
Simple trading range zone break out
and prediction of using that range to make a new trading range going forward.
You can also spot a W formation
which also would point towards a similar level
Hope you have profitable `24
IMX.usd heads up at 2.65: possible top or at least pullback oppIMX has just hit a key zone around $ 2.65
Confluence of local golden plus a high tf fib.
Previous two sister Goldens caused retreats.
It is PROBABLE that we see a pullback.
It is POSSIBLE that this is a Top for now.
It is PLAUSIBLE that strong bull breaks it.
$ 2.50 below would be first good support.
$ 2.28 below that will be key trend support.
$ 2.87 above would be next major resistance.
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IMX โ Immutable Going Into a Nose Dive!? We're Almost There.IMX is deep into its bull trend along with the rest of the crypto market. We have fewer signs of a reversal on this chart compared to others, but many of the same themes are playing out.
How do we trade this? ๐ค
We have three pushes to the upside in a bull channel, an RSI at 73.00, and an upcoming Resistance Zone that support the idea of a reversal. However, we're lacking any kind of confirmation. It's reasonable to look at this chart with a bullish bias and prepare for small position long scalps, but I wouldn't be swinging for the fences with a massive long to the upside, not without more price action and show of support to confirm.
One potential trade is to let the price reject from the Resistance Zone and with some confirmation candles closing on or near their lows, take a standard 1:2 Risk/Reward short position.
Until then, it's reasonable to stay on the sidelines until more price action plays out.
๐ก Trade Idea ๐ก
Short Entry: $2.53
๐ฅ Stop Loss: $3.00
โ
Take Profit #1: $1.58
โ๏ธ Risk/Reward Ratio: 1:2
๐ Key Takeaways ๐
1. Bull Channel, Bias to Long.
2. Three pushes up in a bull trend. Could be near end of Trend.
3. Gap to 30EMA, look for Support.
4. RSI at 73.00 and above Moving Average. Need to fall below Moving Average for short.
5. Bitcoin is running hot to the upside, risk of trend change.
โ ๏ธ Risk Warning! โ ๏ธ
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like ๐ and comment if you found this analysis useful!
IMX screaming "FU" to me is it 2.40 or 3.00 to F**k us? ๐คฌโ๐ขNot financial advice.
I will also reference the last time I saw this on BTC when everyone said it was going to 100k it was painting an FU to me. So I will share that chart when I called the top on BTC in 2021.
A chart that is too bullish I've learned over time will start to cuss you and give you and FU for being to bullish.
IMX is showing that to me as well as AVAX ,SOL and a few others
Setting up the typical December dump.
What I can't answer is if the "F" will be 2.40 or will it be 3.00.
Either way it's cussing me that we are too excited.
Just a fun way to play around with the charts.
#PIK
#TLAW
Patience Is Key
Think Like A Whale
IMX - Potential 430% Swing LongJust a late-night brain dump. I've been trading IMX and WOO for the past 6 months almost everyday and noticed they respect my strategy in similar fashion - so i wanted to look for a correlation between their price action.
To my limited FA knowledge, they don't have anything in common at all, but that doesn't matter at all. With fractals, I don't care too much about the internal moves, but mainly pay attention to the swing points. It's pretty straightforward and an easy 430% win at worst if you just sit on your hands for 8-12 months. Could be a lot better if you'd take profit and compound them in between, but sometimes that doesn't end well.
Let's see how that plays out.
IMX โ Immutable Ready for a Bull Run? Let's Optimize Our Trade.Immutable has fallen out of the bull channel and is trailing sideways around the 30EMA. We don't have any signals to determine if the next move is a drop or pop.
How do we trade this? ๐ค
We don't have enough justification to enter a trade in either direction at this time. What we do have; The macro trend is clearly bullish, we're still above the 200EMA and have not tested it yet, RSI is around 40.00 but below the moving average, this could all be argued in the bull's favor. That the RSI is getting low enough to signal a reversal to the upside and that reversal could happen at the 200EMA. Because of the macro trend, our bias should be long. This analysis maintains that bias while also acknowledging we need key signals before entering a trade.
Until then, let's see how the price action plays out. FOMO (Fear of Missing Out) is your worst enemy. I find combating FOMO is best conceptualized as " You're making more money by not falling for the seduction of market profit. "
๐ก Trade Idea ๐ก
Long Entry: $1.30
๐ฅ Stop Loss: $1.17
โ
Take Profit: $1.56
โ๏ธ Risk/Reward Ratio: 1:2
๐ Key Takeaways ๐
1. Bear Breakout of Bull Channel! End of Bullish Bias.
2. Failed to re-enter.
3. Look for Support at 200EMA.
4. If bounce at 200EMA, look for Bull Signal Bar to Long.
5. RSI at 40.00, Bias to Short in the Short-Term.
โ ๏ธ Risk Warning! โ ๏ธ
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like ๐ and comment if you found this analysis useful!
IMX โ Falling Out Of Bull Channel!? This Chart Shows The WayImmutable token is showing weakness at the bull channel support line, flirting with the idea of breaking out and putting in lower lows. All is not lost! We have potential support zones below the current price of $1.28.
How do we trade this?
Up until 12 hours ago, our bias should have remained long because we were in a bull channel. That all changed once we witnessed the 3rd Reversal Signal as shown in the analysis, when our long bias should be put on hold until we meet the bull channel support line. The price did fall to the support line but had a weak bounce, a strong indication that the bull channel was ending.
Now the price is attempting to beak below the channel support and the RSI is aiding that perception by being below the Moving Average at 40.00 with room to fall.
We need to wait for a bear candle to close below the bull channel, confirming the breakout. Then it's reasonable to scalp to the 200EMA just above $1.10. Use a smaller position size since we're sacrificing Risk/Reward for Probability. Ideally, you should be able to run this trade 100 times and make a profit and since our Risk is equal to our Reward, this trade needs to be successful over 50% of the time.
Since the macro trend is still bullish, I would wait and see what happens at the 200EMA before entering a long. If we get a strong bull bar closing on or near its high, it may be reasonable to enter a long with a protective stop just below the 200EMA. Until then, use caution!
Trade Ideas
Short Entry : $1.25
Stop Loss: $1.39
Take Profit: $1.11
Risk/Reward Ratio: 1:2
Long Entry : $1.17
Stop Loss: $1.07
Take Profit: $1.37
Risk/Reward Ratio: 1:2
Key Takeaways
1. Weak Response At Bull Channel Support.
2. Currently Attempting Bear Breakout of Bull Channel.
3. Look for Support at 200EMA
4. If bounce at 200EMA, look for Bull Signal Bar to Long.
5. If Bull Close Here at Bull Channel Support, Consider Long.
6. RSI at 40.00, Bias to Short in the Short-Term.
You are solely responsible for your trades, trade at your own risk!
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