tradingformoney
Long

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

NYSE:YUM   YUM BRANDS INC
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.

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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.
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i dont like to do that because the market may end up being a chop market.
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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.
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