We received an Ichimoku 4 multiple time frame email alert sell for the GBPJPY currency on the Forex market on Oct 2, 2013. The email alert is shown below:
The email alert showed 60 minutes but the currency is in a consolidation pattern and is bullish on the higher time frames. Therefore, we are going to setup the trade on a 4h time frame. The entry would 158.64, initial risk of 158.93, and a preserve mode of 157.51. This would give us a min. reward of 1.13 and max risk of 0.29. The reward/risk would be 3:1+ i.e. 389%. Here is the chart setup
Currently, we are in preserve mode with a stop of 157.12. The trade is free now since the stop is below our entry.
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