Ichimoku Future Trade of the week 7-5-13 : Dollar Futures

On July 3, 2013, we received an Ichimoku 5 time frame Buy email alert on the dollar futures.    The email alert is shown below:

 

Notice, only the day trading time frames have an Ichimoku strategy.  None of the swing or the long term time frames have a strategy.    These trade opportunities seem like they may go against the higher time frames which is something we do not want to trade.   We have to examine the charts and determine what is going on.

Below is the 60 minute chart.  We have designated the bar when the email was received with an arrow.    The chart also shows the daily support.   Notice, the cloud breakout would have been around the daily support which is not good at all.    Here is the chart:

Sometimes, the best trades are the ones you DO NOT TAKE.  This is a perfect example.  If you took it, you would have been going against the trend.

 

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