Ichimoku Stock Trade of the Week 1-25-13 : COP Conoco Phillips

On Jan 21, 2013, we received an Ichimoku 5 time frame Buy on a Stock COP, Conoco Phillips.  Here is the email:

The entry was 58.99, initial stop of 58.55, and preserve mode value of 59.89.   This would give us a max. risk of 0.44 and a min. risk of 0.90.   The min. reward/risk ratio is 2:1.    This is not a good reward/risk ratio.  Therefore, we are going to choose a tighter stop.   The stop will be 58.75.    With this new stop, we would get a 0.24 risk and a reward/risk of 3.75:1 i.e. 375% return.   Here is the chart:

Currently, we are in Preserve mode.  The current stop is 60.17.

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About the Author Manesh Patel