Maybe I should. Good luck!

I'm glad u asked. Kijun sen is among the respected line in ichimoku. If price has been testing it so many times, it means the bear is stronger than the bull. Thus, I am still expecting more bearish movement.

Even when I explain I also don't think much ppl will care. The only thing ppl wants to know is where gold will go. Or pray hard it goes higher because they bought gold at the top. Or easier to ask if it is the time to buy.

If you want to do an investment, pls at least try to equip yourself with some knowledge. This is one way to help u minimize your risk.

Wish u all the best.

Cannot believe you want to lose your sleep over usd50...

i agree.

Many here do not want to learn about gold.
They just want to make some money outta gold. Not as easy as it looks and sounds.

quinn

if you wanna contribute, you have to to start explaining the jap connotations you are using.
Otherwise, its either you are showing off and no one will benefit.

Maybe we should start another thread on 'Gold knowledge'

For those who want to learn ichimoku trading, please refer to the link at Quinn's signature.

However, i believe ichimoku only useful for someone who does short term trading..

This post has been edited by jphlau: Sep 22 2011, 08:27 AM

Quinn - actually I want to thank you for introducing Ichimoku concept in this forum. I have been merely lurking around this forum anonymously for the past few days or so, but after checking out your charts and correlating them to gold movement, they appear to be quite accurate. Most of the trends you mentioned came true.


To the other gold investors here:
Give Quinn a break. He was trying to point us to a very powerful tool. And a tool is useless in your hand unless you yourself learn to use it. Others can't learn it for you. We should do some leg work ourselves to understand the charts. He can't teach us every detail on such charts!

Anyway, I am totally new to ichimoku, too, but you can pick it up quite fast.

Below are the two webpages that I personally found helpful. It took me less than an hour to read and digest (a) yesterday, and avoided a heavy loss from simply buying gold because "Bernanke is going to speak, so gold will go up" reasoning. It is madness to invest like that!

Check it out carefully:
a) http://www.investopedia.com/articles/techn...p#axzz1YZAekAr2
The above link explains the ichimoku charts terminology, and what it means when the various lines cross each other, or when the lines enter into the cloud (kumo) etc.

b) Free Ichimoku online chart at http://www.profinanceservice.com
It's in Russian, so click on the American flag top left corner to change language to English. Locate Chart , click web instead of java link (don't know why but real-time Java does not work). You can select L to make the chart larger. Then in the drop down boxes above the chart, select COMMOD, GOLD. In the drop down boxes below the chart, select ichimoku. You can select refresh at different intervals, and watch the ichimoku chart at work. From your web-browser, use zoom in to see the chart details/lines more clearly.
Note: I think there is some lag for the webpage version, but it's better than nothing. Ok for non-forex traders like me.
If anyone has a better free online, realtime ichimoku chart website, please share!

Once you understand (a), you can observe the trend from the chart in (b).

If you read (a), it would be the best one hour you invest in educating yourself in a powerful tool, and also to save yourself a lot of heartache especially in this expensive and volatile gold market. Of course, it's no problem for those who want to invest long-term, but those who are short/medium term investors, the charts help you decide when to go in, exit or do nothing.

Again, thanks to Quinn for pointing out ichimoku to us newbies. Domo arigato!

NB: Ichimoku is useful, but nothing is 100% accurate or can guarantee to make you a millionaire. As Quinn keeps saying, you decide before investing, and good luck!

This post has been edited by Yoda-sen: Sep 22 2011, 10:41 AM

Yep, looking at Ichimoku it's quite a comprehensive tool for the discerning short-term investor who seeks to actively profit at peaks and build stocks at lows. However, like any other investor, some people just follow absolute price points as its much easier to notice and act upon. I'd get inte Ichimoku if I have the patience but I'll just use me simple moving average line.

gold price free falling operation twist bad effect on gold....

i shud have follow ur analysis.. it is bearish after fomc ..
i shud hold my short dat time ..
i opt for long though ..

btw Quinn u shud post more ichi chart here for our (or my) guidance/reference ...
i started to learn ichi now bcoz of u

---

Added on September 22, 2011, 9:47 amit was one hell of a day .. AND I DIDNT SET ANY SL !!
im a phail trader..

This post has been edited by mamet: Sep 22 2011, 10:25 AM

Thanks for the informative websites.. already bookmarked them..

Edit: Tenken-Sen now crosses below kijun-sen from above.. strong sell signal???

This post has been edited by jphlau: Sep 22 2011, 10:22 AM

great ! Your strategy almost similar with one of my friend an experienced trader. because you know it early mah.
generally it should look like a diamond shape or pyramid shape.

Let take one example lah.
2002 : 100 oz
2003 : 75 oz
2004 : 50 oz
2005 : 30 oz
2006: 20 oz
2007 : 15 oz
2008 : 10 oz

in case, the price fall from USD1000/- to USD700/- you still make $ cause most of your stock is at low prices.

the rest how about u, if your profolio is less than 15% precious metal and
if you think 2015 :- gold = USD5K/oz.
so now you whack kao kao spread over a period of few month. rather than waiting the price around USD3K/oz.

Now forward to future,
2011 : USD1800/- oz RM100,000 investment
2012 : USD2200/- oz RM60,000 investment
2013 : USD3000/- RM50,0000 investment

suddenly let said new major oil discovery , gold price drop to USD2000/oz. you still won;t cry mah.

@Jphlau
I think you will have to look at the position when this happens (above/below or in the cloud), chikou span line relation to prices for up or down trend as well etc etc. Not just one aspect of the chart.

BTW, there is some lag in the webpage version...not absolutely real-time, ok
If short-term trader, you may need a real-time version...I am still looking for a free one.

Also, I have compared Quinn's charts to the Russian free version at profinanceservice.com, and though similar, I believe Quinn's charts have some slight variations - I may be wrong. He mentioned H4, etc. I am a newbie and still learning what these terms mean.

Still, I think the general concept for these ichimoku lines applies to both of these charts.

will it drop til USD1700/oz ? hope it would

Tenken-Sen now crosses below kijun-sen from above, above the cloud. what does this tell then?? I compared to price of the website to goldprice.org.. prices are comparable.. you can tick the box for the chart to reload every 5 sec..

Commentary from Franklin Sanders, Goldprice.Org today in case you miss it :

WEDNESDAY, SEPTEMBER 21, 2011

Watch that $1,770 Gold Price Support - If that Breaks, Look for $1,705 Next

TODAY something odd happened to the US dollar. It reached support at 76.80, then Comrade Chairman Ben Bernancubus announced that the Fed will shift its US treasury debt holdings to longer term bonds. The Nice Government Men will buy $400 billion of 6 to 30 year bonds over the next 9 months, while selling an equal amount of 3-year or less debt. Object of this manipulation is to push down long term interest rates, flooding the market with artificially cheap money which under their Keynesian thinking means that business will flourish. It won't, as even this natural born fool from Tennessee could tell them, it will only prolong the waste and pain and waste more precious resources. These people ain't got the brains God gave a screwdriver.

The Fed's announcement -- or alien messages from outer space -- sent the dollar index gapping up and it is now trading at 77.304, up 27.4 basis points but most important of all, tapping on that 77.40 resistance that has stymied it this week. Dollar is going higher, count on it, hard as the NGM try to keep it down.

Naturally the Euro dropped 0.42% to 1.3659, on its way to 1.3000. Yen gained 0.36% to 130.58c/Y100 (Y76.58/$1). Fed's move hasn't helped the program of raising the euro very much. What a bunch of goofs. It's like watching the movie, "Three Stooges Run the Central Bank."

And the Three Stooges helped the stock market today, too. Dow lost a modest 283.82 (2.49%), holding on most of the day but then sinking like a rock in a churn after the Fed announcement. Dow closed 11,124.84, while the S&P fell even further, 2.94% (35.33) to 1,166.76. If every doctor was as skilful as Dr. Ben, we'd have a building boom in this country -- building cemeteries.

I don't know why the GOLD PRICE fell today -- dollar up, gold down? Technically it's already in a decline, so most likely it's merely following through to the downside. Gold closed down $1.10 at $1,805.80 on Come, but in the aftermarket has lost nearly $20 to trade at $1,786.90.

Gold's five day chart has strong support at $1,780 and stronger still at $1,770. Picture's not as clear as you might think, as yesterday's action looks like an impulsive move up, and today's might be merely a correction to yesterday.

Awww, stop over-complicating things! Watch that $1,770 support. If that breaks, look for $1,705 next. Overhead GOLD would have to earnestly challenge $1,920 to reverse course. No point in talking about upside, though, until and unless gold first clears its 20 day moving average at $1,822.

This post has been edited by hongchai888: Sep 22 2011, 11:11 AM

dont hope so much, since USD will be strengthen, it wont go so low in RM, try to top up if you got the capital, not sure that next week will get these price again..

This post has been edited by Alexdino: Sep 22 2011, 11:27 AM

@jphlau - it's reversing very quickly...now it's below the cloud. See the (a) link from my post earlier, the explanation is clearer there.

As Quinn mentioned, the charts indicate bearish. Prices will drop. Seem to correlate with the goldprice news per what hongchai posted i.e. price is likely to drop further. Unfortunately for us Malaysians, USD is going up also, so MYR goldprice probably won't drop significantly for now.

Will be away shortly.

the golden bull have been laid to rest.... now the golden bear have wake up from hibernation.... rawwr~~~

USD are getting strong against MY and it will be for a period, just buy if you have the capital, it wont be significant even if it drops to 1700

wow.. you joined this morning and straight away gave 3 comments on gold investment?

p/s: you are not dupe right? lol..

i thought the technical chart is someone promoting their charts for a fee.. well as long its free then np then.

yes, gold prices went down, but check at maybank it still not going down. thanks to raising USD..