carving out a right shoulder

A new thread with some positive trading focus.

Most on the XJO thread trade, not buy and hold.
So a bull or bear call must have a target.
Many ways to trade and all can work. Timing is vital.
Between us all the turns of trends are noticed.
We need to be more of a team and that means more proposed
trades that are discussed.
eg SPX looks bullish target 947 s/l 922
Someone might say poor risk/reward why 922?

Personally I feel the markets are in the right shoulder
phase to the late 08 left shoulder.

I will generally use the SPX as my example.

This is a weekly chart. It's my view of the coming months.

Lines are all targets and I have tried to create a picture
of it's potential trading range.

Via ichimoku, price has now kissed the cloud
and the final rally at the death closed the candle in the
cloud. Price could get trapped by the cloud.

Or the event has happened, do it again and then continue
bear trending.




The daily looks great but

broke my rules for a breakout
it's got a gap

I'll be looking for shorts if price comes out of the weekly
cloud.