Ichimoku Forex Trade of the Week Dec 6, 7 Time frame buy on NZDCAD Currency

On Dec 4, 2013, we received an Ichimoku 7 time frame buy forex email alert for the currency NZDCAD from www.ichimokutrade.com.    Here is the email:

 

All the higher time frames are set to go bullish.  However, the instruments has been consolidating for awhile.   Due to the consolidation and the higher time frame setup, we are going set up the trade on the daily time frame with a pull back setup to keep the risk low.   The entry would be 0.8680, initial stop of 0.8647, and a preserve mode of 0.8782.  This would be a 33 pip max risk and a min. reward of 102.    The min. reward/risk would be 3:1 i.e 300%+.    Here is the chart setup:

Currently, we are in preserve mode.

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About the Author Manesh Patel