Aug 13, 2014 07:56:08 AM EST , we received an Ichimoku 5 time frame sell email alert on Sugar Futures. Here is the email alert:
According to the higher time frames, Sugar has been trending for a long time. As a result, we are going to setup for a pull back trade on the 60m time frame to keep our risk low. The entry is 16.20, initial stop of 16.26, and a preserve mode value of 15.97. This gives us a max risk of 6 cents and a min. reward of 23 cents. This is close to a 4:1 reward/risk i.e. 400%+. Here is the chart setup:
We reached our preserve mode target and then went to preserve mode. In preserve mode, we used the red line plus a buffer as a trailing stop. We got stopped for a profit at 15.97.
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