Ichimoku Australia Stock Trade for the Week ending May 22: FXL-ASX FLEXIGROUP FPO

Using the real time scanner tool to look for multiple time frame support we have found an opportunity on FXL-ASX. We used a pullback strategy to keep our risk low. We are going to use the 240m time frame to setup the pullback trade.

The entry was 3.50, initial stop of 3.45, preserve mode of 3.68.

The risk is 0.05 and the reward is 0.18 to preserve mode. Reaching to preserve mode, it is more than 3:1 reward/risk ratio.

Here is the chart for reference:

FXL-ASX - 240m PB

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About the Author Ludovic Chou