On April 7, 2013, we received a 5 Ichimoku Time frame Buy for the NZDCAD currency for the Spot Forex Market. The email is shown below:
To keep our risk low but look for a mid-long term trade, we setup everything on a 2h timeframe. The entry was 0.8549, initial stop of 0.8533, preserve mode 1 of 0.8614, and preserve mode 2 of 0.8776. We used to two preserve mode values this time since there are a lot of minor resistance levels for a bullish trend. The min. reward would be 65 to preserve mode 1 and the max risk would be 16. This would give us a min. reward/risk of 4:1 i.e. 400% to preserve mode 1. If we got to preserve mode 2, we would get a 1418% return. Here is the chart setup:
We reached Preserve mode 1 and preserve mode 2 for the trade. For the contracts that remained after Preserve 2 was reached, we existed the positions at 0.8709.
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