$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.
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.