Ichimoku Japan Stock Trade For The Week Ending October 23, TPM-ASX, TPGTELECOM FPO

October 20, We received an Ichimoku 4 time frame Buy Email alert on TPM-ASX, TPGTELECOM FPO.

Here is the email alert:

6976-TSE- alert

We used a pullback strategy because it had a multi time frame support match from lower and higher time frames which gives a higher probability of success and also to keep our risk low. We are going to use the 120M time frame to setup the pullback trade.

The entry was 1614.47, initial stop of 1593.69, preserve mode of 1685.12.

The risk is 20.78 and the reward is 70.65 to preserve mode. Reaching to preserve mode, it is a 3:1 reward/risk ratio. For pullback trades our minimum would be a 3:1 if it is not then we don’t take the trade.

Here is the chart for reference:

6976-TSE- 120m pb

 

On the day it hit our trigger and it got to our preserve mode, you could take all profit or you can take half and let the other half position run. If you let the other half run make sure you are trailing your stop.

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.

About the Author Ludovic Chou