Malaysia Ichimoku Trade (19-12-2013) 3816-KLS MISC BERHAD

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We received a 4 timeframe buy signal on 19th December 2013 for the Malaysia stock Misc Berhad.

Below is the email alert:









The entry is at $5.57, initial stop at $5.38 and preserve mode level at $5.81. If it can reach the preserve mode level, it will be a minimum 126% reward risk ratio trade.

Below is the chart:









I like this setup for a few reason. Firstly, it is consolidating in a range; with lower high and higher low. I am looking for a consolidation breakout setup. Secondly, the entry is breaking the pivot high in the past (marked red arrow). If it can break past this level, it can get to the next resistance, which is the preserve mode level.

Below is the daily chart to see the bigger picture:









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