Ichimoku Forex Trade of the Week : Oct 5, 2013 GBPJPY Currency Short

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  • Ichimoku Forex Trade of the Week : Oct 5, 2013 GBPJPY Currency Short

We received an Ichimoku 4 multiple time frame email alert sell for the GBPJPY currency on the Forex market on Oct 2, 2013.    The email alert is shown below:


The email alert showed 60 minutes but the currency is in a consolidation pattern and is bullish on the higher time frames.  Therefore, we are going to setup the trade on a 4h time frame.    The entry would 158.64, initial risk of 158.93, and a preserve mode of 157.51.    This would give us a min. reward of 1.13 and max risk of 0.29.    The reward/risk would be 3:1+ i.e. 389%.   Here is the chart setup

Currently, we are in preserve mode with a stop of 157.12.   The trade is free now since the stop is below our entry.

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

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