$NIFTY $SENSEX India Stock Market trade of the week $PETRONET.EQ-NSE 6 timeframe Buy

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$NIFTY $SENSEX India Stock Market trade of the week $PETRONET.EQ-NSE 6 timeframe Buy.   On April 10 we received a 6 Time frame Ichimoku Buy Email alert for PETRONET.EQ-NSE, WebJectPETRONET LNG INR10 for the $NSE India stock market.   Here is the email alert received.


The $NSE is around the all time high’s for the market.    Therefore, we want to keep our risk so we are going to look for a pull back on a  lower time frame.   Normally, we prefer a 60m because it is the “bridge” between the day traders and the swing traders.   In this case, we did get a setup on the 60m.   There was a setup on a 30m so a trade setup was created on that time frame.

Below is the 60m chart provided by eSignal.


The entry was 409.11, initial stop of 407.40 and a preserve mode of 414.65.   This would be a 3:1 reward/risk.    From the past, price has been consolidating.    Twice, it has a chance to change the sentiment to bearish but it never occurred.    Also, there was a setup on a 240/Daily time frame where the 30m will be supported with the higher time frames.  Therefore, a pull back to retest the top of the consolidation was a high probability.

Initially, when we got the email, there was no IMTF™ dot/square so we could not setup for a pull back trade.   Later in the day, a purple dot appeared which is a day/swing support.    The trade setup then occurred at that point.


Preserve mode was reached.    At that time, you take either 50%/75% positions off and tighten the stop.    With the tightened stop, the trade was exited at 422.00 giving 7:1 reward/risk on the final positions.

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