Ichimoku UK FTSE Stock Trade for the Week ending February 26th, 2016: ITRK-LON, INTERTEK GROUP

On February 24th, 2016, we received an Ichimoku 4 time frame Buy email alert on ITRK-LON, INTERTEK GROUP for the UK FTSE Stock Market. The email alert is shown below:

22816ITRK

We liked the cloud breakout strategy on the 4hr chart and so the next step is to check the higher time frames to make sure they are not against the direction of the 4hr trade.  The daily and weekly charts were also bullish, so we can now check our reward to risk ratio.  Our entry would have been 2957 with a stop at 2758 and the target at 3104.  This gave us a reward to risk ratio less than 1 to 1.  Since we are rules based traders we did not take the trade as it would have violated our reward to risk ratio rule.

See chart below for setup….

22816ITRK

 

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 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