Ichimoku Future Trade of the Week 5-17-13 : Mini Gold Futures Short

On May 14, 2013, we received a Ichimoku 6 Time Frame Email alert Sell on Mini Gold Futures.    The email is shown below:

Due to the consolidation pattern, we setup for a breakout trade on a 1hr time frame.   The entry was 1416.00, initial stop of 1440, and a preserve mode value of 1349.00.   This would be a max risk of 24 points and the min reward is 67 pts.   This would be a close a 3:1 reward/risk ratio.    Here is the chart setup:

The trade went to preserve mode and we then tightened the stop and got stopped out at the preserve mode value of 1349.    This give us a 279% return.

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About the Author Manesh Patel