CANADIAN STOCK Ichimoku Trade of the Week: Aug 12 – Aug 16, 2013.

This is the weekly trade for the Canadian Stock Market. We received an Email Alert on August 12, 2013 for a 4 time frame Buy / Sell opportunity.

There was a signal to go LONG on CANADIAN OIL SANDS LIMITED’S stock. The Entry was at $20.63 and the Initial Stop for the trade was $20.55. A risk of $0.08 per share. The Preserve Mode target and the second target were set based on Proprietary Ichimoku Strategy. The price hit the entry point and started to move in the favour of the trade, as anticipated, the price hit the previous set preserve mode target of $21.12. at this point, half the positions were traded out. A profit of $0.49 per share was encashed for half of the quantity traded thus giving us a Risk : Reward ratio of 1 : 6.125. The other half will be traded out based on how the market reacts going into next week.

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 cannot 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 Vinesh Midha