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.


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About the Author Manesh Patel