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ClearBreaksEdwards & Magee edition

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Internet Computer ICP

$2.772-0.89% 24h

Lines are each pattern's own boundaries (support, resistance or neckline; grey = the pattern's swings), drawn only on the timeframe where it formed.

Minimum target (book measuring rule)Magee stop

Candles: OKX.

Chart patterns

Breakouts & breakdowns

3-week rising wedge · 2 testsBroke down 8d ago4H
Ch 10: two rising lines converging; it normally breaks down, at least two-thirds of the way to the apex. Confirmed by a close about 3% below the line ($4.1632). Minimum target: $2.902 (a minimum, not a limit). Magee stop (Ch 27): $3.7221, 5% beyond the last minor top.

Fakeouts

3-week flat support · 2 testsFakeout 2d ago4H
Ch 13: a level that held two declines after a move of 10% or more; broken, old support tends to become resistance. Confirmed by a close about 3% below the line ($2.861). It then closed 3% back inside the pattern: the book treats that as a failed signal (fakeout). The book gives no measuring rule for this one. Magee stop (Ch 27): $3.7221, 5% beyond the last minor top.

Watchlist

5-day flat support · 3 tests2.5% from breakdown1H
Ch 13: a level that held two declines after a move of 10% or more; broken, old support tends to become resistance. Not broken yet: a close below $2.686 by about 3% would confirm it.