Ichimoku Canadian Stock Trade for the Week ending October 16, 2015: FIRST MAJESTIC SILVER CORP., BUY

On October 12, 2015, we received an Ichimoku 3 multiple time frame Buy email alert on FIRST MAJESTIC SILVER CORP., for the Canadian Stock Market. The email is shown below:

10_12_2015_3_C

The email alert was for a break out of the stock on the bullish side. This breakout setup was emailed through the automated email alert system, as shown above. As soon as the price broke on the bullish side, it had a strong momentum supporting it.    There was an ideal opportunity to take a break out trade.    The entry was at $5.066, Initial stop of $4.894 and a preserve mode of $5.487 was set.  That gave us a risk of $0.172 per share. The Entry, Initial Stop and the Target were based on proprietary ichimoku strategy. As soon as the price started to move in the direction of the trade, a trailing stop method was applied, again based on proprietary ichimoku strategy. The price hit the anticipated preserve mode and the trade exited, giving us a profit of $0.421 Per Share. This trade gave a Risk to Reward Ratio of 1 : 2.45. Here is the chart setup:

10_12_2015_FR 1

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