Ichimoku Future Trade of Week Aug 29, 2014: Soybean Oil 6 time frame Sell

Aug 28, 2014 01:55:08 AM EST, we received an Ichimoku 6 time frame sell email alert on the Future Soybean Oil.    Here is the email alert:

aug29_future_email

Since this signal came when we were asleep, we look at the charts at 6am EST.    The email alert shows the highest time frame that has a cloud breakout is 60.  Therefore, we are setting up for a 60m time frame.   The entry was 32.99, initial stop of 33.07, and a preserve mode value of 32.48. This would give us a max risk of 0.07 and a min. reward of 0.51.   The reward/risk would be 7:1 reward/risk ratio.  Here is the chart setup:

aug29_future_chart

We reached our preserve mode value and now we have tightened our stop.  Currently, our stop is 32.60.

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

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About the Author Manesh Patel