Forex Ichimoku Trade of the Week 5-10-13 : EURJPY Currency 6 time frame Buy Email Alert

On May 5, 2013, we received an Ichimoku 6 time frame Buy email alert in the Forex market for the currency EURJPY.   Here is the email alert:

 

We setup the trade on the 4h time frame.   The entry was 129.00, initial stop of 128.76, and a preserve mode value of 130.32.    This would give us a min. reward of 132 pts and a max risk of 24 pts.   This would give us a min. reward/risk of 5.5:1 reward/risk ratio i.e. 550%.   Here is the chart setup.

The current stop if 130.77.    It is above our entry of 129.00 so we have locked in at least 550% profit already.    It is a “Free trade” also so there is no risk.  As a trend continues, we will lock in more and more profit increasing our potential profit.

 

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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About the Author Manesh Patel