On Feb 19, 2013, we received a Ichimoku 5 Time Frame Email Alert Sell on Wheat Futures. The email alert is shown below:
The daily resistance held and Wheat is still in a major bearish trend. As a result, we are going to look for a bearish continuation trade. From the email alert, we setup for 2h trade. The entry would be 736 6/8, initial risk of 743 2/8, and a preserve mode value of 710. This would give us a max risk of 7 pts and a min. reward of 26 pts. This would give us a 3.7:1 reward/risk ratio i.e. 371%. Here is the chart setup:
We have not reached preserve mode yet but the trade is a FREE TRADE now. The stop is below our entry so as the trend continues to go down, we will continue to move our stop down locking in more and more profits.
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
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