Ichimoku Canadian Stock Trade of the Week 02-10-2014 : BIRCHCLIFF ENERGY LTD., BUY

On Feb. 09, 2014, we received an Ichimoku 4 multiple time frame buy email alert on BIRCHCLIFF ENERGY LTD., for the Canadian Stock Market. The email is shown below:
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 $ 8.67, Initial stop of $ 8.43 and a target of $ 9.38 was set.  That gave us a  risk of $ 0.24 per share. The Entry, Initial Stop and the Target was 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 target, giving us a profit of $ 0.69 Per Share. This trade gave a Risk to Reward Ratio of 1 : 2.88. Here is the chart setup:
02_09_2014_Birchcliff 1
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About the Author Vinesh Midha