Ichimoku Australia Trade of the Week Aug 29, 2014, 5 Time frame Buy Qantas Airways

Aug 20, 2014 05:25:08 AM EST, we received an Ichimoku 5 time frame buy email alert on the Australia Stock Qantas Airways, QAN-ASX.  Here is the email alert:

weekly_aust_stock_8_29_14_enmail2

The charts are showing the instrument is consolidating.     On the 240m, we can see a nice strong support at 1.28.   This is where we are going to setup the trade.  The entry is 1.28, initial stop of 1.26, and preserve mode value of 1.34.    The max risk is 0.02 and a min. reward of 0.06.  This would give us a min. reward/risk of 3:1.   Here is the chart:

weekly_aust_stock_8_29_14_chart2

We reached our preserve mode value so we are now tightening our stop.  The current stop is 1.42.

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

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 Manesh Patel