On June 25, 2015, we received an Ichimoku 4 multiple time frame Buy email alert on 8308-TSE, RESONA HOLDINGS, INC.
The email is shown below:
We used a pullback strategy because it had a multi time frame support match and also to keep our risk low. We are going to use the 120M time frame to setup the pullback trade.
The entry was 694.26, initial stop of 688.82, preserve mode of 716.32.
The risk is 5.44 and the reward is 27.5 to preserve mode. Reaching to preserve mode, it is a 5:1 reward/risk ratio.
Here is the chart for reference:
As you can see the next day it gapped down to the entry and triggered and it has been holding the support. Now it is to manage the trade.
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