June 3 Ichimoku Currency Trade of the Week

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Most of the trends occurred in the month of May. As a result, there are a lot of quick counter trend trades on the lower timeframe.
The chart is a 2 hour chart of AUD/CAD. There are 2 entries on the chart. Entry 1 is a pull back trade @ 1.0063. Entry 2 is a breakout trade @ 1.0121. Both entries have a stop value at 1.0018 and a target of 1.0237. A target was chosen for this trade since it is a counter trend trade to the higher timeframe. Counter trend trades have limited profits so we have a profit target.

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