$AEM-TC Agnico Eagle Mines: Canadian Stock Trade of the Week for the Week Ending May 5.On May 1, we received a 5 Timeframe Ichimoku Buy Alert for Agnico Eagle Mines. Here is the email alert:
Our trading plan indicates that we can only take strategy #4. In this particular case, we chose the 60m.
Below is the 60m chart provided by eSignal.
At the time of the email alert, I had the option of looking for either a bullish breakout or a bullish pullback trade.
Since there was an IMTF™ support in place, I decided to further explore the pullback set up to keep my risk relatively small. The pullback trade provided an adequate Reward:Risk. Price eventually got to my entry at the IMTF™ support and held; price soon went back up and got to my target!
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
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