September 04, We received an Ichimoku 3 time frame Sell Email alert on 6857-TSE, ADVANTEST CORP.
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 120M time frame to setup the pullback trade.
The entry was 970.43, initial stop of 984.68, preserve mode of 902.14.
The risk is 14.25 and the reward is 68.29 to preserve mode. Reaching to preserve mode, it is a 4:1 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:
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