SPX500 Long Trade Setup Entry BreakdownThis is the last setup that I posted, I wanted to show what it looks like zoomed in the 15m. Price approached the level of reaction during NY session, made a high and a low, if it breaks higher we buy, in this case we bought when buyers broke the range, that's the confirmation. Because we always buy when price breaks highs and sell when price breaks lows. Stoploss placed under the low and targeted the highs from the previous setup. ICC, we simply follow what price tells us it wants to do.
IBEX Medium Cap
SPX500 ICC Long Trade SetupPrice dropped from 6070 creating the bottom (L).
Before that bottom, price made that push upside (H).
After (L) price broke above (H), giving us an indication.
We knew that every time price broke back above (H) buyers were ready to buy.
First entry was valid, it was on session and zooming in the 15m buyers were strong and price was creating higher lows.
Although price didn't hit TP, stopped us and continued down to grab the liquidity sitting below the last low (L).
Then again, higher supports, zoom into 15m around the level of reaction to find highs breaking highs.
Back in session, price broke above the level so we re-entered buys, same trade as before, same SL and TP.
Some we lose some we win, what's important is sticking to the plan and managing risk!
BTC long trade updateAs ICC told us, price was going to push
up to the highest high once it broke the resistance, the target was hit but we got stopped right before the move up, what matters is to follow the setup, we don't always win, what's important is to understand and being able to read the chart in front of us, have a strict risk management and execute the trade accordingly.
BTC long trade setup using ICC conceptsBTC is showing buyers presence by pushing price back to the resistance.
If buying volume rises on the resistance, we can zoom into low timeframes to find a bullish structure.
If price breaks above that bullish structure, we can expect the price to reach the last high, 108k, our target. It's weekend so it's low volume, RSI is overbought, I expect price to chill around 100k-103k. We just wait patiently for the price to tell us what it wants to do, could be a 1:3 or 1:4 trade.
NAS SellsNAS - price broke through that last low that was created with momentum pushing past the lowest point (17790) before the highest point (18498) was reached.
That would signify a CHoCH and we are continuing a bearish outlook.
With ICC, after a new low is made in the market (Indication) we can expect a pullback/retracement (Correction), before the continuation.
We will be looking for sells under the 17880 area to the recent lows created (after the correction is completed)
Gold BuysGold breached 2365 and gave us an indication to show that it wants to buy to the 2430 area. This was followed by solid correction to well below the 2365 area, however creating a HL (that area of support at 2330 was not touched, so it held).
Price appears to have concluded that correction, and a break above the 2365 in session, should give us the confirmation that we can buy back to the highs.
NAS ShortBased off Sci's ICC trading concept. Indication - Correction - Continuation
NAS created a new low below 17900 (Indication), then corrected to 18360, which created lower low. With price failing to make a new high/ break the previous highs, sells were possible below 18175 (Continuation) to the low that was created.
Will monitor price in the new week and consider sells below 18020 to the last low, which should be about 130 points.
ICC LABS - Ready for another run ?Dear Traders,
Another stock i'll keep my eyes on this week is ICC Labs, they announced Shareholder Approval of Arrangement With Aurora Cannabis.
Buy volume went up yesterday and there is plenty of ingredients here telling me it might go higher. There is some resistance but with a higher buy volume we should be able to break through it and see a new ATH!
About ICC
ICC is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoid extracts, giving support and promoting responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance with standards for quality and safety.
The weed bubble is coming?There's some nice price action around the weed markets right now and Harvest One is no exception. The most obvious signal here is the RSI divergence forming right now. The price is settling way below ATH, and it needs some retracement upwards! Let's see if we will have a cannabis craze across the board.
This is once again a low risk trade like the one I'm currently holding in Aurora (Check it out!). This is because of the buy indications on multiple timeframes looking at the indicators.
I put in some conservative levels for the careful trader. A conservative buy would be above the yellow line, with a tight stop according to taste. Fib levels above are targets as usual. This is quite a new stock so the resistance levels are quite clear.
The Ichimoku is just waiting to show some level breaking and support forming above this price. The cloud gives little resistance so after a smaller breakout, it's touch and go! Not financial advice though.