Ichimoku Stock Trade of the Week Aug 29, 2014, 4 time frame buy FSLR Stock

Aug 22, 2014 02:00:08 PM EST, we received an Ichimoku 4 time frame buy email alert on the stock FSLR,  First Solar Inc.   Here is the email alert:

aug29_stock_email

Due to the consolidation pattern and market at the all time high, we are going to trade a pull back trade on the 30m to keep the risk low.  The entry is 70.29, initial stop of 70.14, and a preserve mode of 70.88.  This would be a max risk of 0.15 and a min., reward of 0.60.   This would be a 4:1 reward/risk ratio.  Here is the chart:

aug29_stock_chart

We reached preserve mode and got stopped out for a profit at 70.93.

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About the Author Manesh Patel