$UK Stock Market Trade of the Week $PFC-LON 5 time frame buy. On March 29, we received a 5 Time frame Ichimoku Buy Email alert for PFC-LON, Petrofac Limited. Here is the email alert received.
Our trading plan only allows us to trade Strategy #4. We wanted to use a lower timeframe to limit our risk. Below is the 60m chart provided by eSignal March 29.
The FTSE is making new high’s so we want to take low risk trades and since the chart shows a bullish setup with black square IMTF™ support in the setup zone so we place a pullback order at the IMTF™ level of 913.676.
Below is the result:
We got to preserve mode and finally exited the trade at 937. This is almost a 4:1 reward/risk ratio.
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.