Dailybias
SPY Friday ICT Trading 1/27/23This is the truth. Another great trading day to cap off another green week. We are almost 3 weeks green and we have only learned ICT in about 3 weeks too. If that's not saying something, I don't know what will. Although every strategy can be profitable and profit is within every strategy.
Important thing I remebered:
"If there is no liquidity sweep, then you are still in trend" - ICT. What was the trend yesterday, what were direction were our objectives point to, what was weekly telling us? Bullish. That added even more confluence to the trade.
Daily Bias for the week of 1/17/23 - 1/20/23This week preparing my daily bias has been a bit tougher than last week. Fundamentally I am bearish! There are too many signals in our economy that we have a deeper bear market in store for us, possibly deeper than we saw in 2022. However, putting that aside and putting to practice solely what I see on the chart, which is what this weekly exercise is for, this chart represents my bias for the upcoming week.
There are 4 points to the trend line which represent the general direction I anticipate price travels during the upcoming week. We may go higher and then pivot lower, however, the general direction for the week is what I am expecting more so than getting it correct each day.
Let's see how this week plays out! I am quite pleased with the results from my previous daily bias, however, this exercise is not about being right or wrong and ego is out of the equation. This is simply taking what I have become quite good at on lower time frames and implementing it on higher time frames.
Happy trading folks!
Will Sunday head straight into a bear market???Well I am finally getting more comfortable with analyzing the market so I figured I would publish another idea in hopes that maybe someone would give me a heart or whatever trading views version of a like is lol. So here we go, my outlook on Cable.
So I just want to throw this out there. I do trade using ICT concepts so yes I give credit to any logic that I am hoping to share through his teachings anyways back to your regularly scheduled program.
so what I see here is that there was a shift in market structure at the low then the market traded to a premium . I feel like it will break the high before reversing back down. I also used the daily and weekly chart to get a larger view go the market and you can even check it out for yourself. but not to say that I would enter as soon as the price breaks the high bc remember there is a chance I can be wrong but when price does break a high I will be watching it to see any signs of a reversal back into the bear trend. I used a ghost feed to kinda give more detail to my projection.
Hope you enjoy! I'll be watching to see if I can get a entry short where the white like at the top is. That is where the previous Fair value gap was on a larger timeframe. Im hoping it will reject in that area and then head back down to the next price area in a bearish direction.
And that's all I have. This is just me practicing.
until next time.
Short idea on GU after break of hourly structureYesterdays candle closed as a very promoting SS (shooting star), this was seen after a convincing move higher towards a slight daily level. This SS gives me confidence that price will reverse and go down to the untested level on the daily (5th April). We can see that if price comes back to the level now without a move lower we will have 61.8Fib confluence (very strong confluence). We will also have out 50EMA hovering around that area. We have out stop just above the high of the impulsive move down. Nobig news to come out today on either currency so we don't have to worry about watching out for that.
If we get in I will close out at 4PM as it is Friday and I don't hold over the weekend.