Yesterday, our trade got triggered. This morning we have some profit. However, we still have not closed above our entry point at all. This is of major concern. The Kijun Sen is indicating that we are in a consolidating period. Typically, once our entry is triggered, the Kijun Sen is looking healthy and not in a consolidating period. This has not happened.
For the conservative trader, I would recommend to take the profit and look for another entry once we have closed above Entry1. This would be a safe approach. You do not want to be caught in a pull back.
For the agressive trader, wait and see what happens today. If we close above our Entry, we should be in good shape. If not, we have to determine what we will do.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .
Futures/Index/Ichimoku: S&P Mini-Futures/SPY: 6-1-07: Trade Entered