Ichimoku Japan Stock Trade For The Week Ending July 31, 2015: 8306-TSE, MITSUBISHI UFJ FINANCIAL GROUP, INC.

July 30, We received an Ichimoku 5 time frame Buy Email alert on 2015: 8306-TSE, MITSUBISHI UFJ FINANCIAL GROUP, INC.

Here is the email alert:

8306-TSE - 240m alert

We used a pullback strategy because it had a multi time frame support match and also to keep our risk low. We are going to use the 240m time frame to setup the pullback trade. The higher time frames are also bullish. This gives a higher probability of a winning trade.

The entry was 886.83, initial stop of 875.15, preserve mode of 911.23.

The risk is 11.68 and the reward is 36.08 to preserve mode. Reaching to preserve mode, it is a 3:1 reward/risk ratio.

Here is the chart for reference:

8306-TSE - 240m

Hit our entry on the same day, now we wait patiently for the trade to hit the preserve mode or our stop loss.

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About the Author Ludovic Chou