Ichimoku Future Trade of the Week: 4 Time frame Sell Silver Futures

On Oct 27, 2014 03:58:10 PM EST, we received a Ichimoku email alert 4 time frame sell on mini Silver Futures @YI.    Here is the email alert:

weekly_future_10_31_14_email

Silver futures have been consolidating for awhile.  The highest time frame is the 120m so we are going to setup the trade on that time frame.   Since we are dealing with a consolidation pattern, we are going to setup a pull back trade to keep our risk low.   Also, our entry is going to be a conservative entry where the entry is a multiple time frame match across various time frame.    The entry will be 17.414, initial stop of 17.606, and a preserve mode of 16.649.   This gives us a max risk of 0.192 and a min. reward of 0.757.    This is over 4:1 reward/risk ratio.   Here is the chart setup:

weekly_future_10_31_14_chart

The trade triggered and we are in preserve mode.  The current stop is 16.186.   If the trend continues to go down, our stop will continue to move down.   If it decides to pull back, we will be stopped out for a profit.    We are going to let the market tell us what to do.  Either way, this is a “free trade”.   The stop is below the entry so we have locked in profits already which are well over 4:1 reward/risk ratio.

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