$6M Mexican Peso Futures trade of the week for the week ending April 14

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$6M Mexican Peso Futures trade of the week for the week ending April 14.  On April 10,  we received a 6 Timeframe Ichimoku Buy Email Alert for the Mexican Peso Futures.  Here is the email alert:

Week ending April 14 - Mexican Peso

Our trading plan indicates we can only take strategy #4.    Therefore, trading time frame will be 240.

Below is the 240m chart provided by TradingView

Week ending April 14 - Mexican Peso chart


At the time of the email alert, I had the option of looking for both a bullish breakout or a bullish pullback trade.

Due to an inadequate Reward:Risk, I could not take the breakout, at which point I assessed the pullback. The pullback had ichimoku levels as support, however there was no IMTF™ support present at the time. I decided not to take the trade without IMTF™ levels but I kept an eye on this instrument.

Price eventually came down to the 240m ichimoku supports and closed below it; price continued to consolidate and eventually converted those previous ichimoku supports into IMTF™ resistance. At that point I looked for a close above that IMTF™ resistance which finally turned into an IMTF™ support. As soon as price pulled back to that IMTF™ support, this instrument took off bullish – in the direction of the email alert.


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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