YUM! YUM tk cross with chikou span closing above all time highs

On the weekly chart of yum, along with having the ichimoku cloud on the chart, you can clearly see that candle stick for 6/2/14 closed above 79.70 with the chikou span closing above that price level as well. Senkou span b is rising with the cloud. this gives strong indication for a very strong long trend.


I don't need to wait for taking out the previous High Pivot to long stock. As I said before it fullfilled all the 3 Bullish conditions: Chikou above the cloud and previous candle , future kumo is bullish, the price action is above the cloud. The Tenken sen line is above the Kijun Sen line. Chikou line is a some sort of confirmation of the trend on any time frame.
i dont like to do that because the market may end up being a chop market.
lawcch tradingformoney
If the market is choppy, we can use option spread strategy to play like selling Bull PUT spread. Normally breakout strategy gives us a lot of good reward risk ratio like 3 to 1 or more. Unless you are very conservative trader, wait for more confirmation then your reward risk ratio become smaller. Another important aspect I consider is the volume of the stock on the lower time frame or daily chart, I am swing trader, so if there is enough higher up volume on the daily chart, I also can place my trade without taking out the previous Swing High point.
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