August 20, We received an Ichimoku 3 time frame Buy Email alert on TWE-ASX, TREA WINE FPO.
Here is the email alert:
We used a pullback strategy because it had a multi time frame support match from lower and higher time frames which gives a higher probability of success and also to keep our risk low. We are going to use the 240M time frame to setup the pullback trade.
The entry was 5.96, initial stop of 5.88, preserve mode of 6.37.
The risk is 0.08 and the reward is 0.41 to preserve mode. Reaching to preserve mode, it is a 5:1 reward/risk ratio. For pullback trades our minimum would be a 3:1 if it is not then we don’t take the trade.
Here is the chart for reference:
The entry trigger got triggered on the 20th and it did not hold the support and got stopped out. Always follow your plan. As you can see if broke the resistance and now that resistance has become the support. This is still a good opportunity to get back in if you wanted to.
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.
