Ichimoku Forex Trade Setup: GBPNZD Currency 6 time frame Sell

Friday at market close, we received a Ichimoku 6 time frame Forex sell on the currency GBPNZD.    Here is the email alert:

There is conflict among all the time frames so we are going to setup a pull back trade to keep the risk low.   The 4h chart was setup with an entry of 1.9188, initial stop of 1.9252, preserve mode of 1.8993, and a target of 1.8879.   This would give us a max risk of 0.0064 and a min. reward to preserve mode of .0195.    The min. reward/risk ratio would be 3:1 i.e. 300%.   Here is the chart setup:

 

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About the Author Manesh Patel