FTSE London Stock Exchange : Ichimoku trade of the week 8-3-12

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On 7-30-12, we received a 3 time frame buy signal on the a stock REL-LON for the London Stock Exchange, FTSE. Here is the email:

The trade setup is shown on the chart below. The entry was 551.00, initial stop of 526.75, and a preserve mode value at 571.50. This would be a min. reward of 20.5 with an initial risk of 24.25. This is not exactly a 1:1 reward/risk ratio so the trade was re-evaluated at entry. At entry, the stop had moved so the reward/risk > 1:1.

The current chart is shown below:

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