On August 26th, 2015, we received an Ichimoku 4 time frame buy email alert on VED-LON, VEDANTA RESOURCES for the UK FTSE Stock Market. The email alert is shown below:
When we got the alert on VED, we looked at the daily to see where price was going. The daily held the Kijun Sen around 438.051 multiple times, so that told us that the support was holding and there was a good chance for price to get to the top of the cloud.
We liked the 1hr setup as the breakout would clear the previous resistance and price would be free to make a bullish run. Our entry was 507.336, our preserve mode 566.260 ( a little aggressive, but it was a strong daily resistance) a more conservative preserve mode would have been around 557 and our stop was 457.661. Our reward risk is greater than 1 to 1, which is needed in order for us to execute a breakout order
See chart below for setup….
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