This set up was reconfirmed by another 3 time frame email alert, which was received on Nov. 25, 2013. This 2nd email is shown below:
The email alert was for a break out of the stock on the bearish side, which was reconfirmed with a second email alert. This breakout setup was emailed through the automated email alert system, as shown above. As soon as the price broke on the bearish side and it had a strong momentum supporting it. There was an ideal opportunity to take a break out trade. The entry was at Rs 27.02, Initial stop of Rs 27.42 and a target of Rs 25.45 was set. That gave us a risk of Rs. 0.40 per share. The Entry, Initial Stop and the Target was based on proprietary ichimoku strategy. As soon as the price started to move in the direction of the trade, a trailing stop method was applied, again based on proprietary Ichimoku Strategy. The price hit the anticipated target, giving us a profit of Rs 1.57 Per Share. This trade gave a Risk to Reward Ratio of 1 : 3.94. Here is the chart setup:
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