From a technical standpoint, Here are the positives for-MCS:
1. Currently multiple buy Fractals (highlighted in green box).
2. The top upper indicator is a 34 day moving average, and this is positive. Very strong.
3. The alligator is feeding in the uptrend.
4. Prices are trading above the Ichimoku Cloud.
5. The Forward Momentum indicator (lower top) is strong. **
6. The Ichimoku Cloud is rising.
7. The 233 day moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams, you can establish an entry point, again and again, with each new valid Fractal.
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
** The lower indicator on top is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-MCS IN THE TOP LOWER INDICATOR. IT IS VERY POSITIVE.
Possible negatives: slowing of upward momentum and a possible bearish AB=CD pattern.
I don’t think that these will be negative enough to stop the up-trend.
Conclusion, pick an entry point on a trending stock (or asset), and let the trend be your friend.
Good luck to you on all your trades. Don.
1. Currently multiple buy Fractals (highlighted in green box).
2. The top upper indicator is a 34 day moving average, and this is positive. Very strong.
3. The alligator is feeding in the uptrend.
4. Prices are trading above the Ichimoku Cloud.
5. The Forward Momentum indicator (lower top) is strong. **
6. The Ichimoku Cloud is rising.
7. The 233 day moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams, you can establish an entry point, again and again, with each new valid Fractal.
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
** The lower indicator on top is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-MCS IN THE TOP LOWER INDICATOR. IT IS VERY POSITIVE.
Possible negatives: slowing of upward momentum and a possible bearish AB=CD pattern.
I don’t think that these will be negative enough to stop the up-trend.
Conclusion, pick an entry point on a trending stock (or asset), and let the trend be your friend.
Good luck to you on all your trades. Don.