Ichimoku Currency Trade of the Week: Dec 16, 2012 Forex USDSEK

  • Home
  • /
  • Blog
  • /
  • Ichimoku Currency Trade of the Week: Dec 16, 2012 Forex USDSEK

Most people ignore the “exotic” currencies but they shouldn’t.   As a trader, you should be diversified.   As a result, this week’s currency trade of the week will be the USDSEK.

Below is a 5 timeframe sell email we received on at Dec 17 @6pm EST for the Forex Currency USDSEK.    Based on the email, the trade could have been taken on the 60,120m,240m, or daily timeframe.  We decided to take the trade off the 2h time frame.


The multi time frame email are opportunities but does not mean it is time to enter the trade.   They still have to break the last support/resistance.  For this trade, we setup for a breakout trade entry.  The entry was 6.6318, initial stop of 6.6792, preserve mode of 6.5821, and a target of 6.5079.    The initial risk would be 476 pips.  The max reward at the target will be 1237 pips.  To reach preserve mode will be 495 pips.    At preserve mode, we tightened the stop so we don’t give back all our profits.    The reward/risk is 2.5:1.   Here is the Tradestation chart:

On 12/19, we reached our target and exited the trade.


If you would like to learn how to trade using Ichimoku Kinko Hyo, go to www.ichimokutrade.com

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.