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.
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