Stock Trade of the Week : Dec 13, 2013 Ichimoku 7 Time frame Sell LTM Life Time fitness
This stock is from the SP400. The S&P is extremely strong bullish. As a result, we are going to setup the trade on the 1h time frame to keep the risk low. The entry is 46.21, initial stop of 47.17, and a preserve mode of 45.01. We are looking a 1:1 reward/risk or higher when we place the trade so it will become a 3:1. This would be a min. reward of 1.2 and a max risk of 0.96. This is over 1:1 which is what we are looking for. We are also going to use options by buying a put to keep our risk low. Here is the chart setup:
We entered preserve mode and exited the trade around preserve mode too.
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