$NG Natural Gas Futures trade of the week for the week ending April 21. On April 20, we received a 5 Timeframe Ichimoku Sell Alert for the Natural Gas Futures. Here is the email alert:
Our trading plan indicates that we can only take strategy #4. Therefore, our trading timeframe was 120m.
Below is the 120m chart provided by TradingView.
At the time of this email alert, I had the option of looking for either a bearish breakout or a bearish pullback trade.
Due to an inadequate Reward:Risk, I did not take the breakout. I then assessed the bearish pullback which had an IMTF™ resistance and was providing me a Reward:Risk of 8!
Price eventually got to my entry level and held the IMTF™ resistance level I identified. It then moved drastically lower to hit my initial target (preserve mode) and continued to move lower and provide me a greater profit!
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