On September 17th, 2015, we received an Ichimoku 4 time frame sell email alert on IHG-LON, INTERCONTINENTAL HOTELS for the UK FTSE Stock Market. The email alert is shown below:
Looking at the charts we had an opportunity to take a pullback and breakout. We went with the breakout because the pullback level to the Kijun Sen was not a multi-time frame resistance. The breakout level lined up on 60/120/240 time frames. It is up to the traders personality to decide which they prefer. We took the 2hr as we are more comfortable in knowing that every 2hrs we can be at the computer to move our stop.
Our entry was 2348.324, initial stop at 2416.077 and our target was 2272.769. Our reward to risk ratio was slightly above 1 to 1, which is what we need in order to execute a breakout trade.
See chart below for setup….
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