Ichimoku Future Trade of the Week : 7-26-13 Soybean Oil

On July 23, 2013, we received a 5 Ichimoku Time frame sell Email alert on the future Soybean Oil.   The email alert is shown below:

To keep our risk low due to the consolidation pattern, we are going to setup everything on a 2h chart for  breakout trade.   The entry is 45.05, initial stop of 45.53, and a preserve mode value of 43.77.    This would give us a max. risk of 0.48 and a min. reward of 1.28.   That would equal a 2.6:1 reward/risk ratio.    For breakouts, we look for a 1:1 reward/risk ratio so when we enter the trade, it automatically becomes a 3:1 i.e. 300%.  Here is the chart setup.

The trade was exited at the preserve mode value of 43.77.

 

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About the Author Manesh Patel