This morning around 8:27 am EST, we received a 4 timeframe Forex multiple time frame email alert Sell Signal for the Forex market. Here is the email alert:
The lowest time frame with the cloud strategy (4) is the 60m. Therefore, we are going to setup a pull back trade on the 60 minute time frame. The entry will be 0.9221, initial stop of 0.9231, and a preserve mode of 0.91896. The min. reward is 0.0034 pips and the max risk is 0.0010. This is over 3:1 reward/risk i.e. 300%+. Here is the chart setup:
The pull back entry matches at multiple time frame levels. The 60m SKB matches the 10m SKB, 30m SKB, 120 KS, and 240 TS. We would like it to be at the Daily, Weekly, or Monthly but that isn’t there right now due to the consolidation pattern on the Daily. This trade is trading to the bottom of the consolidation pattern and then waiting to see if we can break it since the Daily momentum is good.
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