Ichimoku Forex Trade of the Week 8-16-13 : EURGBP Currency Bullish

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On August 11, 2013, we received an Ichimoku multiple time frame buy on the currency EURGBP for the Forex market.   Here is the email and chart setup:

To keep our risk low, we setup 2h trade.   The entry would be 0.8605, initial stop of 0.8624, and a preserve mode value of 0.8556.   This would give us a max initial risk of 19 pts and a min. reward of 49 pts.    This would give us a 2.5:1 reward/risk ratio i.e. 257%.    Our trading plan dedicates we can only take a 3:1 reward/risk so we “walked away” from this trade.


The trade entered and quickly went to preserve mode.  There was a big spike which would gave us a 25 pips in total.


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