Ichimoku UK FTSE Stock Trade for the Week ending August 28th, 2015: VED-LON, VEDANTA RESOURCES

On August 26th, 2015, we received an Ichimoku 4 time frame buy email alert on VED-LON, VEDANTA RESOURCES for the UK FTSE Stock Market. The email alert is shown below:

82315VED

When we got the alert on VED, we looked at the daily to see where price was going.   The daily held the Kijun Sen around 438.051 multiple times, so that told us that the support was holding and there was a good chance for price to get to the top of the cloud.

We liked the 1hr setup as the breakout would clear the previous resistance and price would be free to make a bullish run.  Our entry was 507.336, our preserve mode 566.260 ( a little aggressive, but it was a strong daily resistance) a more conservative preserve mode would have been around 557 and our stop was 457.661.   Our reward risk is greater than 1 to 1, which is needed in order for us to execute a breakout order

See chart below for setup….

815VED

 

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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 cannot 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.

 

 

About the Author Maneshkumar Patel