Do u know there is also positive swap? Do u know how swap works? Having swap is not necessary a bad thing.

I still stay the same view as before, waiting for my "D" region as my target price. Last bearish retracement was around 5100 pip movement. Current bull retracement is only 4400 pips. After all, kijun sen (red line) is still pointing down showing still a strong bearish movement.


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Gold possible outlook for the week..

XAU has formed an inverted hammer in a very important S&R region. On the daily chart, it has closed below the Kijun Sen. Base on previous historical pattern, when gold closed below daily kijun sen, the yellow metal will go either bearish movement or consolidation movement. It has to break 1840 for the bull to resume.

You decide what's best. I may be wrong Only the market is always right! Tighten your stops.


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You can try WWW.netdania.net under chart category. This is web base and it is free.

It's not just high, its forming double top in the charts, good luck!

I dont look at fundamentals but i just trade what the charts tells me. In this H8 chart, the chikou (green line) is in the kumo. It explains to me the up and down price u mentioned. As soon as it gets out of the kumo, it will show a little bit clearer picture. Time will tell.


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4th time retest of the kijun sen. Lots of bears gathering.


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Trade what you see, not what u feel. This is part of my trading plan.

How many of you have a trading plan? Or do you trade this yellow metal base on the wind? Mind you, that is very dangerous. U need to know when to get in, when to get out and when to stay out!

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.

Hi, short term or long term is all depends on which time frame you are refering to. If you are a long term, then just look at daily chart. If you are short term look for H1 to H4. It is that simple. I even use them on the M1 charts for scalping sometimes.

Thank you. Ichimoku gives you a 3 dimentional view. If you begin to understand it, you may be smiling whole year long. However, The question is not about how good it is. It question still lies at if you have a trading plan. Where is your entry? Where is your take profit? When to cut loss? How is your risk management? Even basic MA can give you good analysis. Thus, ichimoku is a tool to help you make better decisions.

Hi, if the chart you are looking at has weekend candles, it will create slightly different ichimoku views because every single ichi component is base on formulas of 9 period and 26 period. However, your analysis will not be much different. It shall still give you the same view.

Hi, have you considered getting the selling price from bank website such as Maybank? Its free btw.

Gold has reached my target D!

Now? I sold long time ago at 1788 base on H2 chart.
Long time ago i already said i only hunt for sell entry.

This post has been edited by Quinn: Sep 22 2011, 08:37 PM

How did u see it was a high possibility? I'm interested to learn from you too, hehe.

Yes, im trailing with 30min kijun.

Trend trading. Get out when you are wrong. Maximize profit when you are right.

** Chart updated. Watching either price bounce kumo or chikou bounce kijun sen.

This post has been edited by Quinn: Sep 22 2011, 08:58 PM


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Wrong question.

Gold will make many investors frustrated in the next two weeks. I believe many will lose even more money. That's just what I can see from my gold daily chart.

Selling all my gold when price broke down the daily kijun sen was really satisfying. That's what i call trade management. Even if you do not see charts, you can also do trade management.

I'm sorry to those who are losing profits. I realised those who lose profits are reading too much resources, and believe them. Can I say you trade blindly?

This is the points I want to get across.

1. Reading resources is good but only take what best suit you.
2. Reading too much always confuse own analysis. Thus, you will never know where you go wrong and how you can improve your trading.
3. You know how to get into the market, but u didn't know when to get out.
4. Again and again, hopefully the last, what is your trading plan?

What Does Risk Management Mean?
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals. For example, the recession that began in 2008 was largely caused by the loose credit risk management of financial firms.

Read more: http://www.investopedia.com/terms/r/riskmanagement.asp

Now, I believe many of the investor here do not look at charts. Thus, I'm going to share with you a very simple method to manage your risk by just looking at price.

1. Every time the gold price makes a daily new high, take note of the price. (eg: $1800/oz)
2. I have decided to use my risk factor of 5% (please determine your own factor) to determine my cut off point (eg: $1800 x 5% = $90/oz). This means if the price does drop below $1710/oz, I am going take what ever profit/losses I have.

This method will help you to ...
i) cut loss when you are wrong (cut loss can means profits or losses)
ii) maximize profits when you are right

This method weakness ...
i) This will work very well if you bought gold at a very good position.
ii) If market is going to move sideways such as in 2008, you will loss a lot of money instead.

My disclaimer ...
i) Trade at your own risk using the method i just shared.
ii) Read i) again!

Thus, I still suggest to learn a little bit of technical analysis. Even simple moving average can help to make a good trading decision.

If you want to be successful in the business of trading, you have to take the time to gain the education and experience and make your own decisions. Sounds like every other business doesn’t it?