$KLS Malaysia Stock Market trade of the week$1155-KLS 5 timeframe Buy

$KLS Malaysia Stock Market trade of the week $1155-KLS 5 timeframe Buy.   On April 17 we received a 5 Time frame Ichimoku Buy Email alert for $1155-KLS, Malayan Banking BHD for the $KLS Malaysia stock market.   Here is the email alert received.

1704_5TF_1155_BO_Alert

Malayan Banking BHD has been consolidating for around 14 days/28 240minute price bars. Patience is the key to this business.   Sometimes it better to be at zero than to be negative. Some weeks you can have a lot of break out trades. Some none. However, we still need to be vigilant and attentive towards the email alerts, they are usually the ‘early warning’ system to us on incoming breakout trades. Below is the 60m chart provided by eSignal.

1704_5TF_1155_BO

From the chart, the vertical line indicates the time and date that we received the email alert. The entry for the bullish Breakout is 9.06. The initial stop is 8.95 and the preserve mode we set for this trade (breakout is usually a 1:1 Reward Risk Ratio) is at 9.22, which there is a clear resistance at that level. On the 20th Apr, we have triggered our preserve mode and currently have tighten our stop. We are currently on a free trade for this trade.

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About the Author Eric Chai