On April 26, 2013, we received an Ichimoku Multiple Time Frame Sell Email alert on the stock, INTU, Intuit inc. The email is shown below:
We decided to setup the trade on a 4h chart since there was a huge gap before this date. Due to the gap, we are going to setup for a pull back trade since the breakout trade would be a huge risk. The entry was 60.81, initial stop of 61.54, and a preserve mode of 56.05. This would give a min. reward of 4.76 and a max risk of 0.73. This would give us a 6:1 reward/risk ratio i.e. 652%. Here is chart setup:
We are in the trade right now. It is profitable but our stop has not moved down yet for the trade to become free. Also, we took this trade short because it was part of the Nasdaq. Right now, the Nasdaq is the weakest of the Dow and SP500.
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 email@example.com
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.