On Sept 9, 2013, we received an Ichimoku 6 multiple time frame Buy email alert on EURJPY currency for the forex market. The email is shown below.
A lot of people don’t know how to treat the gaps that occur in the currency market on Sunday night. Here is a good example of a low risk trade. During a gap, you want to trade the highest time frame because it filters out the noise. We choose the 240m time frame. The entry was 131.013, initial stop of 130.82, and preserve mode of 131.83. This would give us a max risk of 0.23 and a min. reward of 0.82. The min. reward/risk would be 3:1 i.e. 360%+. Here is the chart setup.
We entered preserve mode and exited the trade at 132.78 with a gain of 177 pips.
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