Trade of the week LRCX US stock Ichimoku 5 time frame Buy

Posted on December 27th, 2016 by

Trade of the Week – LRCX Lam Research US Stock Ichimoku 6 Time frame Buy .   On Dec 20, 2016, we received a Ichimoku 5 time frame buy signal our iMTF™ strategy finder.     Here is the email alert:

2016-12-27_072655_lrcx_19themail

 

On all the time frames, there really was not a cloud strategy.   The reason is that it was a trend continuation trade within a big consolidation pattern.     The first real trade occurred Dec 12.   Here was the email from then:

2016-12-27_071800lcrx_tradeofweek

 

Here is the 4h chart setup from Dec 12 where the blue arrow shows when the email alert was received:

2016-12-27_072400lcrx

Once the target was reached for the Dec 12 target, price decided to consolidate.    During the consolidation pattern, another setup occurred once the Kijun Sen moved up to the value of 106.44 which was the gap low bar.     That is when we setup for a trend continuation trade with a low risk.   Since this is retesting the high again, we are going to use the level of 107.96 as a preserve mode instead of a target.   In another words, we will take at least 50% of our positions off when it gets to that level and tighten our stop so we don’t go “round trip”

Here is the 60m chart where we setup the trade:

2016-12-27_073001llrcx_chart_20

 

The trade entered Dec 21, and the we are in preserve mode now.  Notice, the dots moved higher so it shows the day/swing supports are going higher which is exactly what we need to break the last high.

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

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.

For educational purposes only. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. View our full risk disclosure: https://www.ichimokutrade.com/c/disclaimer/

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