Ichimoku Australia Stock Trade For The Week Ending July 31, OML-ASX, OOHMEDIA FPO

July 27, We received an Ichimoku 5 time frame Buy Email alert on OML-ASX, OOHMEDIA.

Here is the email alert:

OML-ASX 240M pb

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.

Here is the chart for reference:OML-ASX 240M chart

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.

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.

About the Author Ludovic Chou