Value area under 10.00

I am watching the two forces bullish and bearish on this one. As you can see on the daily, we have very defined channel zones. Price is respecting these areas. The pot market is mostly bearish , with decent retracements aka bullish pullbacks (from bearish bias perspective). These are tradeable (I trade them as a counter-trend trade) and typically I see, 1.50 to 2.00 movements. A high probability tradeable pattern has emerged. Currently, I am watching for price to slip back to the 10.00 area of interest.

In my opinion; ACB             is no longer trading like a speculative market, but now as a supply and demand market. As we appear to have a great deal of supply, suppliers are reporting how they can easily meet supply targets. Prices are set by the government, and supply chains are now emerging. I am expecting/predicting prices to keep slipping until August.

The days of 15% moves are gone, but we are seeing consistent days of 3% moves and over 3 or 4 days, that's an easy 9%-12% on a bullish week. I can live with that.

I have also noted, that possibly we have some whales shorting this market. The other day I was watching order flow, I noticed some large buying orders in higher price areas, from a bearish perspective, this would be whales taking profit on the big shorts.

A tip for risk management; Never trade with capital you cant afford to lose. Once you place a trade, assume it to be gone. If you can't live with that, then you shouldn't be trading with that much capital. Simple enough.

This is not financial advice, but purely my opinion and shared thoughts.

I personally trade Acb and I this is a very nice analysis of the stock. Nice job!
AshYo AshYo
@AshYo, I think* this...
@AshYo, Thank you for the kind words. Feel free to add your thoughts.
Very nice write up, thank you.
@nathan.c, Thank you.