BTC | 29K for 23K
Want to see what it's like to simply trade ICT? If the price leaves the consolidation zone quickly, we look for an order block, I set the order block point in the week.
Then I went back to the daily timeframe and started looking for an overlapping region. One of the strongest concepts is breaker block, smart risk channel has a great video about breaker blocks. I really don't know the guy at all and it's definitely not for advertising purposes, but I think it should be okay to say the videos I like here. I hope this doesn't get my opinion removed.
I see a breaker block in the daily chart. This gives me signals of an upward move that BTC could make, whose downward movement is weakening and I think needs liquidity from above.
After placing my short order at 29K level, I divide my position into two with my own technique, the 0.5-0.5 technique, and place one half of my order in the area where my stop will be. This is because price visited the highest weekly OB before making its final low last time. That's why I place another short order in the 30.500 band (current highest weekly ob) where I intend to put my stop at 31.200, after placing my stop at 24000, I place my TP at 24000.
Quite simply, I'm just waiting for the next month. It's around 1:3RR and I risk 3R on swing trades. So this idea can provide me a 9R return or 3R return if the second order did not get filled. Still way better than losing money.
Then I went back to the daily timeframe and started looking for an overlapping region. One of the strongest concepts is breaker block, smart risk channel has a great video about breaker blocks. I really don't know the guy at all and it's definitely not for advertising purposes, but I think it should be okay to say the videos I like here. I hope this doesn't get my opinion removed.
I see a breaker block in the daily chart. This gives me signals of an upward move that BTC could make, whose downward movement is weakening and I think needs liquidity from above.
After placing my short order at 29K level, I divide my position into two with my own technique, the 0.5-0.5 technique, and place one half of my order in the area where my stop will be. This is because price visited the highest weekly OB before making its final low last time. That's why I place another short order in the 30.500 band (current highest weekly ob) where I intend to put my stop at 31.200, after placing my stop at 24000, I place my TP at 24000.
Quite simply, I'm just waiting for the next month. It's around 1:3RR and I risk 3R on swing trades. So this idea can provide me a 9R return or 3R return if the second order did not get filled. Still way better than losing money.
Comment:
As you can see I mentioned a bidirectional liquidity grab on september 5 and we saw it september 6, price took both side of the last candle.
Then we saw a spike around 26.500.
Now we have to see a strong rejection after we reach 26.500-27.000 for 24.200.
If price did not reject those levels STRONGLY we might see continuation higher.
Then we saw a spike around 26.500.
Now we have to see a strong rejection after we reach 26.500-27.000 for 24.200.
If price did not reject those levels STRONGLY we might see continuation higher.
Comment:
We had given the level of 26,500, but it returned from 26,450, unfortunately we could not participate in the move. The price is advancing to 24,200, the level we said it would follow.
“Be so good they can't ignore you.”
Possible scenario might be
26.500 -> 24.200 -> 30500 in the next week.
Also September will have a bad ending note that.