Ichimoku Forex Trade of the week Nov 22, 2013 : 5 time frame Buy EURAUD currency

On Nov 21, 2013, we received an Ichimoku 5 multiple time frame email alert buy on the currency EURAUD for the forex market.   Here is the email alert:

We were not awake when the email alert came in.  As a result, we setup the trade at 8am.     Due to the consolidation pattern, we setup for a breakout trade.  The entry was 1.4533, initial stop of 1.4361, and a preserve mode of 1.4918.   The min. reward is 385 pips and a max risk of 172 pips.  This is a min. reward/risk of 2.2:1.    Remember, when the trade enters, the initial risk will be a lot lower.   If we get a 2.2:1 when we place the order, we definitely will get a > 3:1 when the trade enters.   Here is the chart setup:

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

EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.

About the Author Manesh Patel