Trading Ichimoku » EMC http://tradingichimoku.com technical analysis at a glance Thu, 02 Feb 2012 03:59:26 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 EMC : Kumo resistance on Weekly Charthttp://tradingichimoku.com/2009/04/15/emc-kumo-resistance-on-weekly-chart/ http://tradingichimoku.com/2009/04/15/emc-kumo-resistance-on-weekly-chart/#comments Wed, 15 Apr 2009 09:18:38 +0000 iam802 http://tradingichimoku.com/?p=218 Here’s a fine example of a bullish daily chart only to be stop by the mighty kumo on the Weekly Chart.

 

On the daily chart, we see that Chikou Span has break through the kumo and there aren’t any resistant ahead.

2009apr-emc-corp-800x600

But, a closer look at the Weekly Chart, we can see that it hit straight into a fairly thick kumo and there is a high chance that EMC will turn.

Again the kumo suggest that price is stabilizing within a trading range. There is no clear uptrend signal on the Weekly Chart at this moment.

 

2009apr-emc-corp-800x600_weekly

A reminder to self. Use the Weekly Chart to have a gut feel of how much an ‘uptrend’ on the Daily Chart can rise. Whenever, there is a thick kumo on the Weekly Chart, I will only nibble a little bit of stocks, or use options like IronCondor or Spread positions. 

The aim is to have a small position to get a more focused feel of the counter without commiting too much. Risk management continues to be the most important area that I need to work on.

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