Ichimoku Canadian Stock Trade of the Week 9-23-13 : ENCANA CORPORATION. SELL

On Sept. 23, 2013, we received an Ichimoku 3 multiple time frame Buy email alert on Encana Corporation for the Canadian Stock market.   The email is shown below.

There was an email alert, as shown above, for a multi time frame bearish breakout setup of Encana Corporation’s stock. As soon as the price broke on the bearish side, it had a strong momentum supporting it.    This was an ideal opportunity to take a break out trade.    The entry was at $ 18.07.  Initial stop of $ 18.19 and a target of $ 17.70 was set.   That gave us a  risk of $ 0.12 per share. The trade was exited, based on proprietary ichimoku system, with a profit of $ 0.37 per share.   There was a Risk : reward of 1 : 3.1.    Here is the chart setup:

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 can not 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