• You are here:
  • Home »
  • Blog »
  • Forex »

Forex Trade of the Week : June 20, 2014 -> 6 time frame Ichimoku Sell EURCAD Currency

On June 20, 2014, we received an Ichimoku Forex 6 time frame Sell email alert on EURCAD  currency from www.ichimokutrade.com.     Here is the email alert:

 

Eurcad1hrBO_620_Email

 

The EURCAD has been consolidation for a while but it is still bearish.    Since all the time frame were bearish , we setup for a pull back trade.        The entry was 1.47451, initial stop of 1.47584, and a preserve mode of 1.46682.   This would give us a max risk of .00124 pips and a min. reward of 1.46682 pips.    We are looking for a reward/risk of  3:1.     Here is the chart setup:

 

eurcad_120m_62014 (2)

 

We are now in preserve mode at 1.46682

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.

About the Author Michael Colquitt