Gold chart.

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Added on August 29, 2011, 7:19 pmIf you are trading well, do you need such investments?

This post has been edited by Quinn: Aug 29 2011, 07:19 PM


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Gold chart updated. See how chikou respects the kumo @ Gold H1 chart. Because H1 is bullish and H4 is bearish, thus unclear directions. Once price breaks red trendline, more bearish movement to be expected. If price breaks above kumo @ H4, expect bull to resume.

No i am not full time trader. Soon. It is not easy to be a full time trader, thou many claims it is easy. Yes i trade mainly on technical. I do not really look at fundamentals because i find ichimoku trading system to be magical. Price always respect every component of ichimoku. I have been trading 2 years +. Results, up and downs.




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Gold chart updated. The more in dance in the kumo, the sentiment will slowly turn into bearish songs.


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Gold chart updated. No clear directions yet. Waiting for chikou to clear the kumo.


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If you have missed the train, pls just wait for it patiently.

If they panic and sold, where do these people move they money to?

Some asked me why did gold reversed? Nobody really knows but there was some strong indication.

1. Let's draw some important S&R by using chikou. As in the image attached, S&R was drawn from daily & weekly chart.
2. What is S&R? Support and resistance is a potential reversal "area". I do not consider it as a point, but an area of potential reversal.
3. When price reaches an important S&R, what we do is wait for a clear direction of what the market wants to do. Then, we will ride the trend with the market. As a trend trader, i do not try to pick any tops or bottoms.
4. At a S&R, if it forms a reversal candle, then it will support that it is a strong reversal region. Thus, at XAUDaily image, it formed a double top with reversal candlestick pattern called engulfing.
5. As a trend trader, we wait for a clear direction by scaling into smaller time frame that support the direction of the reversal.
6. As seen in the M15 chart, entry upon kumo breakout was a good one with stop loss at recent high.
7. TP will be using trailing Senkou Span B.
8. Did you see what happens to price when it reached the next support at 1850.43?

Hope this analysis helps you to understand the power of multiple time frame analysis. Until price breaks SSB @ M15, it looks like it will going down for awhile despite hitting the H2 kumo.





For better image: http://forum.lowyat.net/index.php?act=findpost&pid=45172007

This post has been edited by Quinn: Sep 7 2011, 07:04 PM

As a trend trader, i do not try to pick tops or bottoms. Nor do i try to catch the start of the trend nor end of the trend. It is difficult for me to answer your question. Therefore, the only way is to observe for a change of trend, which will be to break the Senkou Span B in M15 chart. Another suggestion, as mentioned in my analysis, spot some reversal points in the S&R i have plotted. I am definately watching the 1806.91



This post has been edited by Quinn: Sep 7 2011, 07:10 PM

Hi all, how's with gold? As mentioned earlier on, 1806.91 was the region i was really watching for. However, I just got back from my holiday in Kuala Lumpur and didn't do a thing about it. It is ok. Everyday also can make money

Price in H4 Kumo, staying out for now. No clear direction.


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Chikou bounce off kumo with strong reversal candle.


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Hi, chikou is lime green. Kumo is baby blue/pink.

Since market is in kumo, it means market is indecisive of its direction.

Gold holding strong at daily Kijun sen(red thick line). When price breaks above H2 kumo, we will see the resume of bullish movement.

Strong support @ 1806.90 with triple bottom. This line is get from the flat kumo in H4 itself. It somehow becomes the fibo extension of 61.80.

Breaking 1806.90, price will head for 1756.10. This 1756.10 is i get from ichimoku itself again. However, if i plot a ABCD harmonic pattern, you will see that it supports this view as well.

ICHIMOKU is very powerful. Itself is a system, at one glance, it tells me everything. Good luck!


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Maybe this chart will allow you to see that probably gold rally may get a "red traffic light". Does it mean gold will start its rally instead? If the USD index gets into kumo, it will be a hard time to trade. Many people is going to lose money. Only time will tell!


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ABCD harmonic pattern coming, watch it!


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If you were keen to know the answer, you would have Google what harmonic pattern is. Without charts, i really don't understand how i can trade well. Everyday i would be asking the same old question, how high it go? how low it go? is it good time to buy? is it good time to sell? I stop asking because i could see everything in my chart. I'm glad you asked.

I bought many gold in the two red arrow. If price does break below the kijun sen (which is the red line), i am taking all my profits at the blue arrow region.

Seeing charts is very powerful. It has made my trading decision a lot more profitable.

Hope you will spend time to learn about charting, than just prices.

Good luck!

All you need to know about ABCD harmonic pattern: http://www.babypips.com/school/the-abcd-an...hree-drive.html

This post has been edited by Quinn: Sep 15 2011, 02:48 AM


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I'm happily profiting the fall of gold

Already profitting over 1000 pips.

U need to understand gold range movement per day.

XAU for forex. Moved my stop loss. Now, going to rest.