NWL SP500 7 Timeframe Ichimoku Email Alert for the week ending July 15. On Jul 14, we received a 7 time frame Ichimoku Multiple time frame email alert at www.ichimokutrade.com. Here is the email alert:
Based on the 3 Step Trading Plan published earlier. (https://www.ichimokutrade.com/c/?p=10431), we looked at a iMTF Bullish Pull Back Trade on a 30m time frame provided by eSignal. Here is the chart setup:
There is a 120/60/30/10 iMTF support @ 49.06, which is also our entry. Initial stop is 48.92. Our target will be the pivot high @ 49.33. As you can see from the chart, there are 3 times that priced tried but failed to close above 49.33; From my point of view, this indicates that there is a resistance. Hence, 49.33 is used as my target for this trade. Now, the reward risk ratio was not a 3:1, hence for this trade my trading plan did not allow me to take the trade. And as you can see, if we were to take this trade, it would have failed.
SHW SP500 7 Timeframe Ichimoku Email Alert for the week ending July 15. On Jul 15, we received a 7 time frame Ichimoku Multiple time frame email alert at www.ichimokutrade.com. Here is the email alert:
Based on the 3 Step Trading Plan published earlier. (https://www.ichimokutrade.com/c/?p=10431), we looked at a iMTF Bullish Pull Back Trade on a 30m time frame provided by eSignal. Here is the chart setup:
There is a 120/60/30/10 iMTF support @ 306.93, which is also our entry. Initial stop is 306.15. Our target will be the pivot high @ 308.75. Now, the reward risk ratio was not a 3:1, hence for this trade my trading plan did not allow me to take the trade. And as you can see, if we were to take this trade, it would have failed.
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
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.
