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S&P500

$SPY . Right on resistance level

 

I think this is a pretty good setup from /ES.

1. On the Daily Ichimoku Chart, /ES is hitting the resistance level at around 1386.

2. The Ichimoku indicator already has a weak Bearish cross from the Tenkan sen and Kijun sen cross.

3. Looking at the leading kumo, it suggests that there is a possibility for a change in trend.

Target timeframe around 2 weeks for the pricelevel to fall through the kumo.

Long May 139 PUTS.

By iam802

Trend trading with Ichimoku