$UK Stock Market Trade of the Week $PFC-LON 5 time frame sell opportunity. With a shorter working week. Fewer opportunities presented themselves. However, on April 13, we received a 5 Timeframe Ichimoku Sell Email alert for PRU-LON, Prudential 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 TradingView.
and below is a zoomed in view.
We had IMTF™ resistances at 1671.45 and 1672.48 giving us a pullback entry at these levels giving us a reward/risk ratio over 3:1.
Although we missed entering the pullback trade by a few pips. We could setup a break out trade. As shown the chart below.
our entry sits on a resistance so we will move it down slightly and we target the pivot low. We are currently waiting to enter the trade and expect a minimum 3:1 reward/risk ratio on entry.
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.