Forex Trade of the Week : March 7, 2014 -> 6 time frame Ichimoku Sell AUDNZD Currency

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  • Forex Trade of the Week : March 7, 2014 -> 6 time frame Ichimoku Sell AUDNZD Currency

On Mar 04, 2014, we received an Ichimoku 6 time frame Sell email alert on AUDNZD Currency for the Forex market from     Here is the email alert:
We setup the trade on the Daily since it was a cloud breakout.    The entry was 1.0756, initial stop of 1.0819, and preserve mode value of 1.0544.    There is still potential for the instrument to go lower so we will tighten our stop at the preserve mode value instead of getting out as a target.   The max risk is 45 pips with a min. reward of 212 pips.  This gives a min. of 4.7:1 reward/risk i.e. 471%.     Here is the chart setup:
The trade as triggered and price is slowly moving down.  The current stop is still the red line since the green line has not moved down yet.
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