July 01, We received an Ichimoku 4 time frame sell Email alert on OSH-ASX, OIL SEARCH FPO 10T.
Click on the email alert image:
As you can see there are many time frame that has an ichimoku bearish strategy happening. We have chosen with 120M for a quicker trade and it has multi time frame matching resistance so a pull back strategy was used to limit our risk. The higher time frames are also all bearish which gives a higher probability of success.
The entry was 7.36, initial stop of 7.42, preserve mode of 7.05.
The risk is 0.06 and the reward is 0.31 to preserve mode. Reaching to preserve mode, it is 5:1 reward/risk ratio.
Click on chart for reference:
it hold off the resistance and went straight to our preserve mode. You could take profit or let half of the position run while trailing the stop using our ichimoku strategy.
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