Ichimoku Future Trade of the Week 1-11-13: Heating Oil Future Bullish

Trade of the week:  On Jan 7, 2013, we received a Ichimoku 6 time frame Buy on the Future Heating Oil.    The email alert is shown below:

We received the email where we were sleeping so no action was taken right away.   In the morning, we looked at the chart and wait for a cloud breakout and then setup the chart.   The entry was 3.0303, initial stop of 3.0226, and a preserve mode of 3.0702.    This would give us a max. risk of 0.0077 and a min. reward of .0476.   This would be a min. 6:1 reward/risk ratio i.e. 600%.   Here is the chart:

We reached preserve mode and then exited the trade at 3.0549.

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

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About the Author Manesh Patel