Currency / Forex Trade of the Week 1-18-13 : GBPUSD 2h

On January 14, 2013, we received an Ichimoku 5 time frame buy on GBPUSD currency for the Forex market.   The email alert is shown below:

The trade was for the 2 hour time frame to keep the risk low and maximize on the reward.  The entry was 1.6100, initial risk of 1.6118, preserve mode of 1.6037, and a target of 1.5883.    The max. risk is 18 pips with a min. reward of 63 pips to the preserve mode value.  This would give us a min. of 3.5/1 i.e 350% return.   Here is the chart setup:


We exited the trade at 1.6018 with a profit.   Later, we did setup for another pull back trade which got us to the initial target we had projected.

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

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About the Author Manesh Patel