ICC Flashcards

(14 cards)

1
Q

What does the acronym ICC stand for?

A

Indication, Correction, and Continuation

It is a price action framework used to follow market trends rather than ‘predicting’ them.

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2
Q

What defines an Indication?

A

A breakout above a previous resistance level (for buys) or below a support level (for sells)

It signals the market’s intent.

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3
Q

Why should you avoid trading the Indication phase?

A

Because breakouts are often forms of liquidity grabs

They frequently retrace to ‘stop out’ traders who entered too early or overleveraged during the move.

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4
Q

What is the purpose of the Correction phase?

A

To ‘clear the money’ from breakout traders

It is the pullback that happens 99% of the time after an indication before the real move starts.

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5
Q

When does the Continuation occur?

A

When price moves back above the level that gave the initial reaction and resumes the trend

This is the ideal entry zone.

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6
Q

Where should your Stop Loss be placed in an ICC setup?

A

Roughly below the Support level created during the Correction phase

If price is truly bullish, it should maintain these lows.

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7
Q

What is the primary Take Profit (TP) target?

A

The previous high set by the Indication move

This is viewed as a ‘decision-making level.’

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8
Q

What timeframes does the creator recommend for analysis vs. entry?

A

1-hour for the median level/market structure; 15-minute or 30-minute for refining entries

This helps in making more precise trading decisions.

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9
Q

What is Timeframe Alignment?

A

Ensuring that all timeframes are moving in the same direction

For example, all bullish before taking a trade.

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10
Q

True or False: You should enter a trade when a news candle is ‘going crazy’ and running points.

A

FALSE

This is trading the Indication. You must wait for the Correction.

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11
Q

How does the creator view ‘feelings’ in trading?

A

You should never ‘feel’ like the market is going to buy or sell

You must wait for price action to show you what it wants to do.

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12
Q

In the analogy of a Professional Sprinter, what does the Indication represent?

A

The Starting Gun

This is the Breakout where price suddenly bursts through a ‘ceiling’ (Resistance).

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13
Q

In the sprinter analogy, what does the Correction represent?

A

Catching Their Breath

This is the Pullback where price drops back down toward the starting line.

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14
Q

In the sprinter analogy, what does the Continuation represent?

A

The Final Kick

This is your Entry when price climbs back up and breaks past the high point of the Indication phase.

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