On July 22, 2013, we received a 6 Ichimoku Time Frame buy email alert on the Stock VLY, Valley national Bancorp on the SP400. The email is shown below:
The 4h chart looked good to setup a pull back trade. The entry was 9.70, initial risk is 9.63, and a preserve mode value of 9.98. The max risk is 0.07 and the min. reward is 0.28. This would be min. a 3:1 i.e. 300%+ reward/risk risk. Here is the chart setup:
We are in preserve mode now with the current stop 9.93. It is a free trade now since our stop is above our entry.
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