August 07, We received an Ichimoku 5 time frame Buy Email alert on HVN-ASX, HARVEY FPO.
Here is the email alert:
We used a pullback strategy because it had a multi time frame support match from lower and higher time frames which gives a higher probability of success and also to keep our risk low. We are going to use the 120M time frame to setup the pullback trade.
The entry was 4.65, initial stop of 4.60, preserve mode of 4.82.
The risk is 0.05 and the reward is 0.22 to preserve mode. Reaching to preserve mode, it is a 4:1 reward/risk ratio. For pullback trades our minimum would be a 3:1 if it is not then we don’t take the trade.
Here is the chart for reference:
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