Ichimoku Future Trade of the Week 6-28-13 : Sell Silver Futures

On June 25, 2013, we received an Ichimoku 5 time frame Sell email alert on the future Silver.    The email is shown below:

Due to Gold going down, all the metals were going down drastically.   Silver was going down at a higher percentage than Gold.   As a result, we were looking a bearish continuation trade on Silver on the lower time frames.    With this email, we setup for a 60m trade.   The entry was 19.317, initial stop of 19.721, and preserve mode value of 18.775.    This would give us a max reward of 0.404 and a min. reward of 0.649.   The min. reward/risk would be 1.6:1 i.e. 160%.    This would definitely go up once we have entered the trade since the stop would move down.   Right now, this the min. reward/risk on placing the order…not entering. Also, we setup for a breakout order instead of a pull back due to the consolidation pattern on the 60m.  Here is the chart setup:

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About the Author Manesh Patel