Ichimoku Forex/Currency Trade of the Week 6-28-12 2hr Chart

NZDCAD has been in a bullish trend for a long time. Therefore, any trade we entered on the lower timeframes will have limited profits. As a result, our trading plan only allows us to take pull back trade if they setup.

On 6/28 a pull back trade on the 2Hr occurred. The chart is shown below. The entry was 0.8113, initial stop of .8103 and a PRESERVE mode value of .8164. This would give us a risk of 10 pips and a min. reward of 51 pips. This is over 500% potential reward.

The trade triggered and we got to our PRESERVE mode. The trade was a FREE trade before we reached our PRESERVE mode.

Once we got to PRESERVE mode, the goal was to protect our profits so we tightened our stop. Eventually, we got stopped out at 0.8153. This give us 40 pips of profits which was a 400% gain.

If you would like to learn more how trade currencies, get Multi-timeframe email alerts, options, or Ichimoku go to www.ichimokutrade.com.

EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also 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 provide d on the Blog is for educational purpose

About the Author Manesh Patel