$UK Stock Market Trade of the Week $INTU-LON

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$UK Stock Market Trade of the Week $INTU-LON 6 time frame sell opportunity.  On May 4th, we received a 6 Timeframe Ichimoku Buy Email alert for CPG-LON, Compass Group PLC.  Here is the email alert received.

Our trading plan allows us to trade Strategy #4. We chose the trade the 60 minute timeframe.  Below is the chart provided by Esignal.

Price had been consolidating for near 90 bars so we were expecting price to break out of the pattern.  When we received this the email alert we had IMTF™ resistances at 275.46 and 281.03. The pullback trade did not yield a good reward/risk ratio but a breakout trade gave a potential 3:1 reward/risk with a target on 260.27. We entered the trade shortly an hour later. Here is the current chart.

Price has just made a minor pullback to the TS but we have IMTFs™ moving down helping price move to our target. We are currently managing our stops.

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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