$ASX Australia market trade of the week $APA Group

$ASX Australia market trade of the week $APA Group.   We received a 5 time frame Ichimoku buy email alert on March 13, 2017.    Here is the email alert:

2017-03-19_082549apa-asx_email

APA-ASX had a setup on 10m,120m,240m, and Daily.     Notice, there was no setup on the 30m and 60m.   This typically indicates that the instrument is consolidation.  As a result, we are going to look at the 240m for trade entry with low risk.

Below is the 240m chart provided by eSignal

2017-03-19_082248apa-asx

The chart shows a bullish green zone with black squares.   These are the two requirements needed in order to setup for a trade.    The entry would be 8.54, initial stop of 8.46, and a preserve mode of 8.82.    This would give us a 3:1 reward/risk.

Here is the daily timeframe.

2017-03-19_083906apa_daily

All our basic requirements were met so let’s make some observations.    In the past, the last failure was a bullish setup.   Even though it failed, it still held the black squares in the end,   It was a volatility spike that caused the failure.    With our advance Ichimoku rules (taught in 1 month mentoring), we know that we could not take a pull back trade, only a breakout trade.   Also, instead of going bearish after the failure, the instrument setup again in a short amount of time with another bullish setup.    This second setup met our advance rules so we could place a pull back trade.

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

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About the Author Manesh Patel