Ichimoku Stock Trade of the Week 9-6-13 : THG, Hanover Insurance Group

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On Aug 30, 2013, we received an Ichimoku 5 multiple time frame sell on the stock THG, the Hanover Insurance Group.  The email alert is shown below:

Since the stock was consolidating and a pull back did not exist since the Ichimoku indicators where not flat, we setup for a breakout trade on 60 minute timeframe.   The entry was 53.51, initial risk of 55.33 and a preserve mode value of 50.77.   This gives us a min. reward of 2.74 and a max risk of 1.82.  The reward/risk would be 1.5:1.  This is ok since we should entry around a 3:1 when we enter the trade.  Here is the chart setup:

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

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