Futures 6/7 Timeframe Ichimoku Email Alerts for the week ending May 6
The following analysis is based on a 3 Step Trading Plan published earlier. See following link for original post: https://www.ichimokutrade.com/c/?p=10431
6 timeframe buy alert on Copper on May 2 @ 06:59EST. I could not identify a direct iMTF support but the 120m and 240m levels were close so I decided to throw out a bait off the 120m with a tight stop. We ended up getting stopped out from this trade – in hindsight we can see that there was no iMTF supporting us.
6 timeframe sell alert on Oats on May 2 @ 20:55EST. I identified an iMTF resistance on the 10m/30m/60m/120m/240m and validated that the Reward/Risk is sufficient. At that point I decided to setup a pullback trade off the 30m. This trade worked out well as it bounced right off the iMTF and broke through our preserve mode to give us a final Reward/Risk of 8.7!
6 timeframe sell alert on Wheat on May 4 @ 05:55 EST. I identified an iMTF on 30m/60m/120m/240m and set up a pullback order on the 120m after validating the Reward/Risk. Price never pulled back to the iMTF so I looked for a breakout, however, the Reward/Risk was not good so we walked away from this opportunity.
6 timeframe sell alert on Corn on May 4 @ 20:55EST. I identified an iMTF on 30m/60m/120/240m and set up a pullback order on the 240m after validating the Reward/Risk. Price never pulled back to the iMTF so I looked for a breakout, however, the Reward/Risk was not good as the breakout entry was near an iMTF support so we walked away from this opportunity.
6 timeframe buy alert on Lean Hog on May 5 @ 12:55EST. I identified an iMTF on 30m/60m/120m/240m/Daily and set up a pullback order on the 120m after validating the Reward/Risk. Due to the time it took for the pullback to trigger, by the time the trade did trigger, the Ichimoku lines were starting to already move which is not good for us. That being said, this trade worked out well and we reached our Preserve Mode in the end!
6 timeframe sell alert on Mini-Dow on May 5 @ 22:55EST. I could not identify a direct iMTF resistance but the Ichimoku levels on the 30m/60m/240m were close so I decided to throw out a bait off the 30m with a tight stop; however, I did not set up this trade because the Reward/Risk was insufficient.
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 email@example.com
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has 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 provided on the Blog is for educational purpose.