On Sept 8, 2014, we received an Ichimoku 4 time frame buy email alert on the Australian stock NWS-ASX, News Corp. The email alert is shown below:
The daily time frame is trying to change sentiment from consolidation to bullish based on Ichimoku. As a result, there is a high probability of it getting to the next major resistance. We therefore setup for a pull back trade on the 240m. The entry is 18.36, initial stop of 18.31, and a target of 18.69. This is a reward of 0.33 and max risk of 0.05. This is over 6:1 reward/risk ratio. Here is the chart setup:
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