On June 16th, 2015, we received an Ichimoku 3 time frame buy email alert on WOS-LON, WOLSELEY for the UK FTSE Stock Market. The email alert is shown below:
We had a cloud breakout (4) strategy on the daily, but the risk was to much to trade off of that timeframe. The 240 timeframe had a (2) strategy and the reward/risk fit our criteria so the trade was taken. Our entry was 4092.878, our initial stop at 4068 and our target 4234.820. Our reward/risk was (5.7):(1).
Our target was a bit aggressive, but the Daily chart suggested that it would reach our level. A conservative approach would have targeted 4192.697, which would have yielded a 4:1 reward/risk.
See chart below for setup…
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