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:
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