Currency Forex Ichimoku Trade of the Week USDDKK : 9-7-2012

On 9-5-2012, we received a 5 time frame Ichimoku Sell on USDDKK Currency for the Forex market. The email alert is shown below:

The chart setup on the 4h is shown below. The entry was 5.9295, initial risk of 5.9380, and a preserve mode value of 5.8952. The min. reward is 0.0343 and a max risk of 0.0085. This is a reward/risk of 4:1 i.e. 403% profit.

We are in preserve mode already with a current stop of 5.8474. It is a free trade now where our stop if below our entry so as the trend continues, we will lock in more and more of the profits.

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About the Author Manesh Patel