ICP analysis

$ICP

💹 First Futures Trade on ICP 🚀
I'm kicking off my first futures trade on ICP with an eye on the next bull market! My strategy is to always wait for a correction to buy lower. This time, I saw several chart confluences on ICP, so I'm entering with a well-planned, low-risk cross spread.

📝 Entry Strategy:
I'm going to split my position into two entries:

1️⃣ First entry at $7.80, with 5x leverage and an investment of $1,560, which is equivalent to 1,000 ICP (total of $7,800 with leverage).

2️⃣ Second entry at $6.80, in case the market drops further, buying another 2,000 ICP with leverage, giving me an average final price of $7.13.

🎯 Exit Target: $50 for ICP.

🔒 Stop Loss: Positioned at $5.50, just below the last low.

📊 Risk and Reward:
Total Risk: $4,900 (if the stop is reached at $5.50 for both orders)Potential Return:If only the first order is taken: $42,200 ($50 target)If both orders are taken (average price of $7.13): $128,600 ($50 target)
💬 Let's follow and hope that ICP takes advantage of the momentum in the next bull!

CONFLUENCE 1: Fibonnacci 618 golden pocket region
CONFLUENCE 2: Strong support region
CONFLUENCE 3 - lower lows
CONFLUENCE : broke LTB and tested 2x in the 4h chart