RE: Beginners Questions
(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.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.