Ichimoku Forex Trade of the Week : 7-26-13 GBPCAD Currency

  • Home
  • /
  • Blog
  • /
  • Ichimoku Forex Trade of the Week : 7-26-13 GBPCAD Currency

On July 23, 2013, we received an Ichimoku Forex 6 time frame sell email alert for the GBPCAD currency.   The email alert is shown below:

We setup for a 4h chart since it will be a counter trend trade.  A target will also be chosen since we are trading within a wide consolidation pattern.   The entry would be 1.5850, initial stop of 1.5867, preserve mode value of 1.5805, and a target of 1.5767.    This would give us a max risk of 0.0017 and the min. reward  0.0045 to preserve mode and 0.0083 pips to the target.    This would give us a 4:1+ i.e. 488% reward/risk.   Here is the chart setup:


We exited out at the target.


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

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has 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.