Malaysia Ichimoku Trade (19-12-2013) 3816-KLS MISC BERHAD

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We received a 4 timeframe buy signal on 19th December 2013 for the Malaysia stock Misc Berhad.

Below is the email alert:

3816-EMAIL

 

 

 

 

 

 

 

The entry is at $5.57, initial stop at $5.38 and preserve mode level at $5.81. If it can reach the preserve mode level, it will be a minimum 126% reward risk ratio trade.

Below is the chart:

3816-CHART1

 

 

 

 

 

 

 

I like this setup for a few reason. Firstly, it is consolidating in a range; with lower high and higher low. I am looking for a consolidation breakout setup. Secondly, the entry is breaking the pivot high in the past (marked red arrow). If it can break past this level, it can get to the next resistance, which is the preserve mode level.

Below is the daily chart to see the bigger picture:

3815-CHART2

 

 

 

 

 

 

 

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 info@eiicapital.com

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