Forex Trade of the Week : Jan 10, 2014 / 4 time frame Ichimoku Sell AUDNZD Currency

On Jan 6, 2014, we received an Ichimoku 4 time frame Sell email alert on AUDNZD Currency for the Forex market from www.ichimokutrade.com.     Here is the email alert:
Weekly_currency_jan10_2014_email
AUDNZD for 2013 was one of the currencies that had the biggest trend.  It moved down drastically.    If it can break the major support, AUDNZD can move down another level.   Since we are close to the major support, we are going to setup a Pull back trade on the 4hr time frame.    The entry was 1.0827, initial stop of 1.0844, and a preserve mode of 1.0743.   This is a max risk of 17 pips and min. reward of 84 pips.    This is a min. 4:1 reward/risk i.e. 494%+.    Here is the chart setup:
Weekly_currency_jan10_2014_chart
The trade was exited at 1.0768 after it entered preserve mode.
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About the Author Manesh Patel