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.
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