On May 6, 2013, we received an Ichimoku 6 time frame Buy email alert on the stock ITW, Illinois Tool Works. Here is the email alert:
Due to the market at the all time high’s, we are setting up a breakout trade on the 2h time frame. The entry was 66.24, initial stop of 64.71, and a preserve mode value of 67.75. Since the stock is at a all time high, there is no history of resistance value. Therefore, we are have setup for a 1:1 reward/risk ratio. When we enter the trade, it should become close to 3:1 reward/risk ratio i.e. 300%. Here is the current chart setup:
Currently, we are in Preserve mode right now. The stop is 67.50. Since the current stop if above the entry, this is a FREE trade. There is no more risk for this trade. As as the trend continues to move higher, we will lock in more profits. This trade is setup now to give us a residual income.
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.
