Ichimoku Forex Trade Setup: USDSEK Currency 6 time frame buy email alert

Jul 30, 2014 08:27:07 AM EST  , we received a Ichimoku 6 time frame Forex Buy email alert on the currency USDSEK.   Here is the email alert:

073014_usdsek_chartl

We are going to setup the trade on the 30m time frame since this is consider an “exotic currency”.   The Entry will be 6.8697, initial stop of 6.8653, and a preserve mode of 6.8968.    This will give us a min reward of 267 pips with a max risk of 43 pips.   This is over 6:1 reward/risk ratio i.e 600%+.   With the spread it will be less but still above the 3:1 that we require.   Here is the chart setup:

073014_usdsek_char2l

If we break the preserve mode value before the trade is triggered, we will cancel the buy order.

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

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About the Author Manesh Patel