July 27, We received an Ichimoku 5 time frame Buy Email alert on OML-ASX, OOHMEDIA.
Here is the email alert:
We used a pullback strategy because it had a multi time frame support match and also to keep our risk low. We are going to use the 240m time frame to setup the pullback trade. It previously had a bearish 4 setup but it didn’t trigger the break out entry and went the opposite way, now we are taking advantage of this situation to go long with this stock.
The entry was 2.56, initial stop of 2.52, preserve mode of 2.68.
The risk is 0.04 and the reward is 0.12 to preserve mode. Reaching to preserve mode, it is a 3:1 reward/risk ratio.
On the same day the entry got triggered. Now we have to wait patiently for price to get to preserve mode or hit our stop loss. Remember to follow your plan and not deviate from it to be consistent in trading.
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