Ichimoku Currency Trade of the Week 1-4-13: GBPCAD Forex

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  • Ichimoku Currency Trade of the Week 1-4-13: GBPCAD Forex

On Dec 30, 2012, we received a 4 Ichimoku Forex Time Frame Email Alert for the GBPCAD currency.     The email alert is shown below.

A pull back trade on 2h time frame was setup to keep the risk low.   The entry was 1.6049, initial stop of 1.6024, Preserve Mode value of 1.6112, and a Target of 1.6178.   The risk would be 25 pips and a min. reward of 63 to the preserve mode value.   This would give us a 2.5:1 reward/risk ratio.   We would get a reward of 129 pips if we get to the Target value i.e. 5:1 reward/risk ratio (500%).   Here is the chart setup:

You can see from the results, our target was reached.

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

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