SubZero

wait till the $SPY comes into my net

BATS:SPY   SPDR S&P 500 ETF TRUST
359 views
bounce to me

Comments

both targets were hit check out my updated spy charts on monthly and daily with weekly S/R lines
Reply
Updated plan
Reply
What Ichimoku principles do you apply and do you add other thoughts to your trading decision?
Reply
SubZero DTFXTrading
Looking at all four signals to evaluate the probability of a good entry: 1. above/below cloud 2. above/below Kijun-sen 3. above/below Tenakn-sen 4. Chikou above/below price history. So I count how many of them match, say 3 out of 4 can still be a trade if other indicators look promising (see later). 2 out of 2 I would be cautious, with smaller size or not to trade it at all. One signal is obviously no trade. I look at multiple timeframes, if they conflict I prioritize the higher one. Cloud has utmost important to me, trying to avoid trading in the cloud on daily. I also look at volume and momentum indicator, lately I prefer BB% for that. for targets I use cloud shadow and Chikou but also take into consideration key levels such as fibonacci and gaps if there is confluence I prefer that. I generally do not use crosses as they are lagging.
Reply
Thanks for the breakdown - very helpful and interesting. We are similar in approach in mnay ways and I have toyed with blending Ichimoku with some other traditional indicators with some success such as ADX and OSMA. When trades run heavily in my favour I agree that crosses are very lagging and I have been using Parabolic SAR as another option to trailing a stop. You can never stop learning in this business. Much appreciated
Reply
133.31 stop with a 139.7 target entry at 132.27 still looks like a very good good Risk/Reward setup
Reply
Since it could not hold above 133 it is still on sell signal, today (23rd candle) on 4h chart there is a bullish engulf signal this cautions me to wait for a better price to short, at the same time we could not make new high and the low is lower which breaks the bounce. Wait and see at the moment. I have a very small short on FB but no position against SPY at the moment.
Reply
Nice setup. It's good that you show clear take profit and stop loss zones.
Reply
charttrader charttrader
What is you target today? Do you agree with this idea and expecting it goes up? Please comment.
Reply
charttrader charttrader
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out