Ichimoku Stock Trade of the Week : 7-26-13 SP400 VLY Valley National Bancorp

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  • Ichimoku Stock Trade of the Week : 7-26-13 SP400 VLY Valley National Bancorp

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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