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good day everyone this is Jack from the stock serpent watchdog and today I want to bring to you on my new process video that will run through all my entry rules I created it in the form of a checklist so that you can actually go through step by step to see if it is indeed a good buying opportunity in a stock on the screen you can see I am using Tesla as my test case here I will run through my checklist to see if Tesla is in fact a good buy here or where it broke out and and then will make a determination if it is an all clear or a danger ahead alright those are my rankings my recommendations at the end of each video to make sure that the stock is in fact investable at that point because my goal is to prevent the small investor from suffering unnecessary draw downs and unnecessary capital fluctuations or equity fluctuations in their stock brokerage accounts I know that it can be detrimental to your emotional well-being and it is my goal to try and prevent that okay here we go so we are starting with the Kumu cloud so my first thing on my checklist is that price is trading above the kuhmo cloud now here's the kuhmo cloud here is my price and this is where we broke out through price so in fact that would be a bullish indicator right here so the first thing on my checklist is a go I am trading above the kuhmo cloud right here the second thing on my cool on my checklist is that price is trading higher than the kuhmo shadows or resistance areas from the past the Kumu shadow is the cloud that is trading behind price now those are usually strong resistance areas or support areas depending on if you're going long or short right here in Tesla the Kumu shadow would be this area here now you can see there is no other shadow kuhmo shadow here on the six-month chart but if you look carefully you will see that price is having a little bit of difficulty getting through the kuhmo shadow resistance area right here now that makes it significant because this system is awesome and it will definitely help you to find resistance and support levels wherever you need to find them all right so on the second point price is trading at just at the kuhmo shadows edge so that would be kind of a neutral for me it won't be bullish or bearish because we're training right at it so that would be in neutral on the third point on my checklist we have the tankenson which is this blue line that's a nine point fast moving average and this is the cajón sin' this is the 26th day intermediate moving average they're all midpoint they're not based on closing prices but on the highest high and the highest low averaged average through their periods all right so the tankenson this blue line and the Cajuns in this red Rhine what am I looking for I'm looking for the tankenson this blue line to be above the red line that is in fact a bullish sign so tankenson is trading significantly above the Cajuns in this red line that is a big gap in anyone's book that is a massive gap if you just look down here you will see that the Cajun cent is trading at or is valued at 302 302 dollars and the tankinson is at 343 all right so that is a pretty big gap it's like 40 bucks and that is definitely a bullish sign right there okay next thing okay this one's a little bit a little bit bearish and it is where is price trading relative to my cajun sin' now price relative to my cajun sin' it should be trading roughly at or near the Cajun s'en to indicate that this is an orderly trend and not a very volatile movement now from here you can clearly see that this was not very orderly this was very rapid this was very disorderly and that is why this particular item on my checklist price being roughly at the same value as my Cajun cent or my intermediate term midpoint moving average that is a bearish indicator okay that's it's bearish because what the tankenson what the tankinson and the Cajuns and does if price gets extended above them it tends to draw them back to those midpoint moving averages okay so price does tend to be drawn back to the midpoint moving averages and here it is the Cajun s'en that we'll be drawing back priced to it now obviously the Cajun soon will continue to move up its ever so slightly moving up the Cajun s'en is slightly moving up the tankenson has turned flat almost all right so this is a bearish indicator price is too far extended from the Cajun s'en and that can possibly lead to consolidation in the future all right so on point for its bearish then point 5 is my tankinson and my cajun sin' above the kuhmo cloud all right so I got half-and-half here the tankinson is trading above the cloud but the Cajun sin is in the cloud so here I would have to go with bearish why do you say bearish it's because this mid point movie this 26-day mid point moving average carries more weight than the fast moving average so with the 26-day mid point moving average being in the cloud it is indefinitely a little bit more bearish than it is bullish okay all right number six on my checklist is my tankenson is a move pointing up is my tankenson moving up or pointing up it is in fact not doing that it is turning flat if you look at it you can see that the tankenson it was moving up very strongly I'm pointing up very strongly but then it just went flat so it'll be interesting to see what happens with that next so this is clearly consolidation so it is not pointing down it's it's pointing to the side it's some sideways moving consolidation that is neutral that is neutral for Tesla at the moment that same thing for the tank for the cajon s'en is the Cajun scene pointing up well ever so slightly the cajon s'en is pointing up so I will have to go with bullish there even though it is trading in the cloud that is a different part of my checklist it is definitely pointing up so I'll give that a bullish a bullish ranking all right next up is the eighth one on my list which is that you Cal spun let's go back 26 periods here we are 26 periods there it is so this point here has been moved back 26 periods this is the closing price by the way this closing price plotted back 26 days on the daily chart and that tells me that it is bullish if it is trading above price so here's the cat chuckles fun and here's price it is significantly above price so this is a bullish indicator or a bullish item on my checklist next up the chakal spun is it above the cloud and that is affirmative it is bullish the chakal spun is trading above the cloud so I got another bullish check on my checklist that is awesome it seems like Tesla is shaping up here to continue in its bullish ways then let's have a look at the tenth and final item on my checklist that is the chakal spun future what is the future hold for this momentum indicator by the way this is my favorite if you haven't caught that in previous videos this momentum indicator is part of this Ichimoku kinko hail technical trading system and this one tells you when big moves are brewing in a stock or a market if it has broken through price like it did here and it has continued to break through the kuhmo cloud like it did here even though it went back into the cloud it is again trading above the cloud that is bullish in my opinion and according to this system all right so let's see what does the future hold for the tenth and final point on this checklist process now for the future for checking out the future for the chakal spun we have to look both horizontally and vertically for where the chicle spun can interact with the cloud or interact with price so let's look Horace on telly first so let's just let's just imagine that price goes sideways here what will happen to the chakal spun the chakal spun will take roughly half a month 15 16 trading days then it will interact with price so in about two weeks to three trading weeks it will interact with price and once it interacts with price it will consolidate so if price stays here at this current level and it fluctuates here then the Chiklis bond will interact with price and and further consolidation will happen let's check vertically vertically we are in open space baby there is nothing above this level if you check here you can see that there's blue sky here there's blue sky there is a very real potential that Tesla can start trending here a very real potential if it can continue to breakout here it will definitely have a very strong potential to trend fast and furiously to the upside since there are no price points to interact with here the chakal spun will not consolidate it will just keep moving up so that is very bullish so let's summarize on the first item on the checklist price greater than the kuhmo bullish on the second item on the checklist is price greater than the kuhmo shadow well that's trading roughly at it so that's neutral then the third item is the tankenson the blue line greater than the red line yes it is it is definitely bullish on the fourth item on the checklist is price roughly equal to or near the cajon 'sin well that is clearly not the case prices up here and the cajon senate's down here so that would be a definite definite bearish bearish call on that one so we got three bullish and one bearish so far let's look at the fifth one and the tinkin s'en and the cajon s'en are both trading above the cloud that is not happening here that is also bearish so we got three bullish - bearish and the sixth point on the on the checklist checklist is the tankenson pointing up it's not in fact it is moving sideways so that would be a neutral that will be in neutral or did I say that the second point was bearish I'm wrong I'm correcting that on the second point it's actually neutral so we got a couple of bullish bullish checks on the checklist then we have two neutrals on the checklist and we have two bearish on the checklist so far then looking at the cajon sin is the cajon sin pointing up yes it is it is bullish so that brings us to the chicken spawn and the chicken spawn is trading above price that's bullish the chicken spun trading above the kuhmo that's bullish and finally is the chicken spawn in open space yes it is it is bullish so to sum this up we have to neutral and we have two bearish checks on our checklist that leaves us with six bullish checks on our checklist now that is greater than 50% and if you weigh these in terms of their importance it will definitely shift the odds of this being a very bullish chart - to the upside here it's definitely looking bullish to the upside alright now I just want to want to quickly jump to a weekly chart here is a weekly chart of Tesla and go back to that second point on the checklist which is price trading above the kuhmo shadow because the kuhmo shadow is generally price resistance in a bullish move you can see here have a look you see there's the edge of my kuhmo shadow there's the edge and look exactly where price is trading right now price is trading at the edge of the kuhmo shadow that means that Tesla is trading at price resistance now this would be another indicator that this is in fact the second point is in fact not neutral but that is is in fact a bearish check on the checklist because on a weekly which carries slightly more weight than a daily obviously it is not neutral or positive it is clearly bearish here because it is trading at resistance and on a weekly I cannot call that neutral on a weekly I'll have to say that it is bumping up against pretty firm resistance you can also see that there hasn't been a close on a weekly basis above that level have a look this this candle could not close above the kuhmo shadow and that is a big negative and therefore a bearish check on my checklist okay so that is the process that I follow I hope that it is pretty clear for everyone I will try and add that to the description the checklist to the description so that you can have a quick look at it I know it might seem confusing to those people who are new to the Ichimoku kinko halo technical trading system it is a lot to digest so I suggest you do some reading up because I am actually not going to go into any more detail there's a lot of information if you google it there's a lot of information on youtube already if you just search for it and you will find all of the technical information there it is my goal just to show you how this is working with price and how it's working with individual stocks and markets at the moment all right thank you very much for watching everyone if you would like to see more videos like this please press the subscribe button and hit the notification Bell so that you get all of my new videos I am trying my best year to make as many videos as I can to get this channel up and running it is a new channel and I would love your support thank you very much I appreciate it good trading and a good day to you all
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