On June 28, 2013, we received an Ichimoku 6 time frame Email buy alert on the Stock WFM, Whole Foods Market. It was for a 10m, 60m, and Daily time frame. The email alert is shown below:
If you look at the higher time frames, the stock was consolidating. As a result, we took the trade off the daily time frame to have the highest probability scenario for trading within the consolidation pattern. The entry was 51.54, initial stop of 51.03, and a preserve mode value of 53.59. This would give us a max risk of 0.51 and min. reward of 2.05. The min. reward/risk would be 4:1 i.e. 400%.
Currently, we are in the trade and the stop if 53.99. Since the stop is above the entry, it is a free trade i.e. no risk. As the instrument goes up, we lock in more and more profits paying us an income for moving the stop.
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 or email us at firstname.lastname@example.org
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