Ichimoku Stock Trade of the week 6-28-13 : IDA , Idacorp Inc.

  • Home
  • /
  • Blog
  • /
  • Ichimoku Stock Trade of the week 6-28-13 : IDA , Idacorp Inc.

On June 24, 2013, we received a 6 time frame Sell Ichimoku Email alert on the stock IDA, Idacorp Inc.  The email is shown below.


In looking at the weekly time frame, IDA had bounced off the major support  of 46.19 which was the Ichimoku Kijun Sen.    Here is the weekly chart:


The email alert showed a selling opportunity on the 240m.    In examining the charts, the pull back trade at the Ichimoku Kijun Sen value of 47.56 would be in the middle of the consolidation pattern.   Also, if price pulled back to that level then it would go back above the consolidation support level which would not be good.     Here is the 240m chart:


Due to all these reasons, we did NOT enter the trade.   It is better to “walk away” from these type of trades instead of putting the trade on.   Why?   Well, there are a number of reasons.  First, it is not a high probability trade.   It is 50/50.   You can not win with these types of statistics.   Second, taking these types of trades can setup a bad habit which we definitely don’t want to do.   Lastly, this trade can be emotional.   Since you are trading within a consolidation pattern, the trade can go positive and then negative and positive over and over causing an “emotional roller coaster”.    In order to be a successful trader, we want to setup our environment so we succeed and not fail.    Taking this trade, would setup us to fail.


If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.