Ichimoku Stock Trade of the Week : 11-8-13 : SO, Southern Company

On November 4, 2013, we received a 7 time frame Ichimoku email alert on the US stock, SO, Southern Company.  The email alert is shown below.

We setup the trade on a 4hr time frame.   The entry was 41.78, initial stop of 42.14, and a preserve mode value of 40.60.    This would give us a max risk of 0.36 and a min. reward of 1.18.   This is a min. of 3:1 reward/risk i.e. 300% >.     Here is the chart setup.

 

We entered preserve mode now and the stop is 41.41.    The trade is “free” with no risk since our stop is below our entry. 

 

 

We entered preserve mode and exited the trade at 132.78 with a gain of 177 pips.

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About the Author Manesh Patel