Ichimoku Forex Trade Exit : GBPNZD Currency 4h trade position

The currency GBPNZD got to our preserve mode value for the Forex market.     At that point, a couple of things can happen because you go into “defense” mode to protect your profits.

If you entered with multiple contracts, you take off 50/75% of your contracts at this point.   The rest of them, you can continue to use the Kijun Sen with a buffer or you can tighten your stop by using the Tenkan Sen with a buffer as a stop.     For the remaining contracts, you exited with some profits.

If you had one contract, you basically switch from the Kijun sen to the Tenkan Sen with a buffer for a stop.   You exited with some profit in the end.

 

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About the Author Manesh Patel