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RE: Beginners Questions - isatrader - 2014-02-17
(2014-02-17, 09:29 PM)acito616 Wrote: I'm intrigued by rule 9 of your SATA scoring, "Price Greater than the Kijun Line (part of the "Ichimoku Kinko Hyo" method, which focuses on dynamic support and resistance zones.)". Don't remember seeing it in Weinstein's book, guess I'll have to do some google searching.
It's not in the book. However, support and resistance is one of the key components of the method, and Ichimoku is a way to determine support and resistance zones, and the Kijun line is part of the ichimoku method, so look it up, and you'll see how it can be useful.
I developed the SATA scores a while ago when trying to create a systematic way of calculating the Stages. And I think an additional rating to cover the resistance component also based on Ichikoku clouds would be whether the price is trading above it's weekly Ichikoku cloud. Which would give you 10 rules and cover off the four key components of the method on an individual chart - price action, volume, relative performance and resistance.
RE: Beginners Questions - isatrader - 2014-02-18
I thought it would be helpful to members to do some quiz questions occasionally, and so as I have a bit of time I've attached is a mystery chart with a set of questions for you to answer.
- What is the Stage of this stock?
- Is price above a flat or rising 30 week MA?
- What is the volume doing?
- Is the relative performance versus the S&P 500 above or below the zero line?
- Is the relative performance zero line itself down, flattening or rising?
- Is there significant near term resistance?
- Would you buy this stock?
- I've also included the Sector chart and the S&P 500 at the time, so that you can evaluate their Stages also to complete the analysis.
RE: Beginners Questions - MalcolmSm1th - 2014-02-18
IsaTrader. Excellent questions, thanks, and an excellent idea.
I am not sure of the bottom chart in yourillustration. Which line is which please because questions four and five use this lower chart.?
I've 'done' the other answers and will keep my answers to myself until others have said theirs.
Thanks
Malc
RE: Beginners Questions - isatrader - 2014-02-18
(2014-02-18, 11:27 AM)MalcolmSm1th Wrote: I am not sure of the bottom chart in your illustration. Which line is which please because questions four and five use this lower chart.?
The bottom indicator is the relative performance versus the S&P 500. The black line is the relative performance line, and the blue line is the "zero line" (relative performance 52 week MA).
RE: Beginners Questions - acito616 - 2014-02-18
(2014-02-18, 11:12 AM)isatrader Wrote: I thought it would be helpful to members to do some quiz questions occasionally, and so as I have a bit of time I've attached is a mystery chart with a set of questions for you to answer.
- What is the Stage of this stock?
- Is price above a flat or rising 30 week MA?
- What is the volume doing?
- Is the relative performance versus the S&P 500 above or below the zero line?
- Is the relative performance zero line itself down, flattening or rising?
- Is there significant near term resistance?
- Would you buy this stock?
- I've also included the Sector chart and the S&P 500 at the time, so that you can evaluate their Stages also to complete the analysis.
Isatrader,
1: Stage 2A
2: Rising 30W ma.
3: Volume looks to be almost double its ma.
4 & 5: Relative performance is above the 0 line and rising.
6: resistance is about $4.75
7: I would buy once the price exceeds the $4.75 pivot point as long as the volume continued to increase, this would also put it at new 52 week high.
I've had my best luck with 52 week and all time highs.
Both the sector and market are rising.
acito616
(2014-02-18, 02:07 PM)acito616 Wrote:(2014-02-18, 11:12 AM)isatrader Wrote: I thought it would be helpful to members to do some quiz questions occasionally, and so as I have a bit of time I've attached is a mystery chart with a set of questions for you to answer.
- What is the Stage of this stock?
- Is price above a flat or rising 30 week MA?
- What is the volume doing?
- Is the relative performance versus the S&P 500 above or below the zero line?
- Is the relative performance zero line itself down, flattening or rising?
- Is there significant near term resistance?
- Would you buy this stock?
- I've also included the Sector chart and the S&P 500 at the time, so that you can evaluate their Stages also to complete the analysis.
Isatrader,
1: Stage 2A
2: Rising 30W ma.
3: Volume looks to be almost double its ma.
4 & 5: Relative performance is above the 0 line and rising.
6: resistance is about $4.75
7: I would buy once the price exceeds the $4.75 pivot point as long as the volume continued to increase, this would also put it at new 52 week high.
I've had my best luck with 52 week and all time highs.
Both the sector and market are rising.
acito616
Also, once it exceeded its pivot point I would call it a stage 2.
RE: Beginners Questions - isatrader - 2014-02-18
(2014-02-18, 02:07 PM)acito616 Wrote: 1: Stage 2A
2: Rising 30W ma.
3: Volume looks to be almost double its ma.
4 & 5: Relative performance is above the 0 line and rising.
6: resistance is about $4.75
7: I would buy once the price exceeds the $4.75 pivot point as long as the volume continued to increase, this would also put it at new 52 week high.
I've had my best luck with 52 week and all time highs.
Both the sector and market are rising.
Also, once it exceeded its pivot point I would call it a stage 2.
Good stuff acito616,
I will post marked up before and after charts later once a few more people have had a go at analyzing it
For an additional question for people, what Stage is the sector chart in?
RE: Beginners Questions - acito616 - 2014-02-18
(2014-02-18, 02:13 PM)isatrader Wrote:(2014-02-18, 02:07 PM)acito616 Wrote: 1: Stage 2A
2: Rising 30W ma.
3: Volume looks to be almost double its ma.
4 & 5: Relative performance is above the 0 line and rising.
6: resistance is about $4.75
7: I would buy once the price exceeds the $4.75 pivot point as long as the volume continued to increase, this would also put it at new 52 week high.
I've had my best luck with 52 week and all time highs.
Both the sector and market are rising.
Also, once it exceeded its pivot point I would call it a stage 2.
Good stuff acito616,
I will post marked up before and after charts later once a few more people have had a go at analyzing it
isatrader,
Thanks, I'm going to spend some time on Stockcharts.com and Google researching the Kijun Line you posted. I spend a lot of time drawing my own support and resistance areas so from first glance this "Ichimoku Kinko Hyo" might help make my work a little easier.
acito
RE: Beginners Questions - isatrader - 2014-02-18
(2014-02-18, 02:23 PM)acito616 Wrote: Thanks, I'm going to spend some time on Stockcharts.com and Google researching the Kijun Line you posted. I spend a lot of time drawing my own support and resistance areas so from first glance this "Ichimoku Kinko Hyo" might help make my work a little easier.
The Kijun Line is only part of Ichimoku, but I actually prefer to have it hidden so that I can just view the weekly cloud, which shows the dynamic resistance zone that Ichimoku creates, as the Kijun line is just another type of long term moving average. Attached is the settings in stockcharts for just the cloud on the normal weekly chart I use, which you can save as a template, and then view as a secondary chart.