On Aug 30, 2013, we received an Ichimoku 5 multiple time frame sell on the stock THG, the Hanover Insurance Group. The email alert is shown below:
Since the stock was consolidating and a pull back did not exist since the Ichimoku indicators where not flat, we setup for a breakout trade on 60 minute timeframe. The entry was 53.51, initial risk of 55.33 and a preserve mode value of 50.77. This gives us a min. reward of 2.74 and a max risk of 1.82. The reward/risk would be 1.5:1. This is ok since we should entry around a 3:1 when we enter the trade. Here is the chart setup:
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