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  • #12,881
  • Jul 31, 2014 5:26am Jul 31, 2014 5:26am
Quoting fortunesaga
{quote} I have never heard of "Ichimoku Kumo" before. But since the name sounded good in my ears I had a look at it through Google search when you posted your question. I am going to have a look at it. Is it helping you a little bit or is it helping you a lot? Why and how is it helping you?
i do use it on 4h time frame and yes i dos help me much it help me to identify the trend
Senior Trader Multi-Account Manager
  • #12,882
  • Jul 31, 2014 5:31am Jul 31, 2014 5:31am
Gofo rates just came out:

1 Month: .05600
2 Month: .07800
3 Month: .09600

They are trending towards negative again, early June was the last time it was this low. Will keep an eye on it to see if it does get to negative.

So far in this new 'normal' era of regular negative rates I haven't seen Gold make sharp moves either way (especially downwards) whilst the rate is zero or below.
  • #12,883
  • Jul 31, 2014 5:32am Jul 31, 2014 5:32am
Quoting Catempire
Quote
on what depend this hocus pocus like till august and etc. this will bearish or bullish!! i saw this alot in this thread and others.. if anyone have this kind of info. in forex .. no one in the market will lose For Everyone posting this posts, everyone will be grateful to add the proof of your thought to fed us with your wonderful trading technique Otherwise, we won't get any benefit from your posts please don't spam anyone with posts with hollow vision like these Thanks Everyone For any useful posts ../quote] The kejun, Tekan have been above
...
Hi there,
I have blown 2 accounts already for over 4 k. Things are getting better now with Ichimoku, however I find it not that great for gold. It is awesome for Forex currencies but for gold I find it good for scalping up to 15 min chart. This market is so much manipulated and I can make profits only through hedging

I agree with your analysis. Within the monthly chart we should not dip below 1178 by any means which is unlikely to happen, below 1178 by the end of the year we will dip badly which is again unlikely, that can happen to normal currencies but not for a metal that already costs around 1100 as I know for extraction and manufacturing, so we are good in there. If we ever reach 1500 by the end of the year, this will be the start of a new era

For weekly, and if Ichimoku chart went perfect, we should see 1400 by the end of August and from there we will see if it can go more up to 1500 and be over all clouds or start on sideways.

I find gold is very very much respecting the Fibonacci and the Bollinger Bands for all timeframes which is wonderful to couple with Ichimoku for good scalping on lower timeframes and for daily trading.

For this week we should not dip below 1280 and make benefit from the upcoming daily bullish Ichimoku cloud, otherwise we will have sideways for god knows how long.

On the other hand I do trust CT seasonal analysis and as per Fibonacci, price is trying hard to break the 1292 level and eventually will if news supported it tomorrow and today.

Gold didn't respond to all this week news so far on a broader view, we were below 1305 already (Fib38.2%) and we were going to hit 1292 from a technical view with or without the news. News has only eaten SL for many traders and nothing more.

Personally I hope to see 1280 with an immediate strong rejection and we can benefit from the seasonality of gold.

After all I have been trading live for only around 4 months and 6 on Demo. So please do your own analysis as I maybe wrong a big time.

BTW CT I follow every post but for a newbie I try to share less and learn more before I can be a valuable contributor one day hopefully and I am not giving up on this yet

Have a green day all of you isa
  • #12,884
  • Jul 31, 2014 5:34am Jul 31, 2014 5:34am
Out of the gold subject, S&P has been finding huge huge support as always at 1948-1950 and going up maybe again to 1980 or even 2000 hopefully. This is a much safer environment for easy money
  • #12,885
  • Jul 31, 2014 5:39am Jul 31, 2014 5:39am
Gold looks like trying to hit again 1293 to break Fibonacci 50%. but I dont think it will be able to do it before USA Market opens and news at 02:00 p.m. my time. however it is good for scalping some Pips
  • #12,886
  • Jul 31, 2014 6:06am Jul 31, 2014 6:06am
Quoting fortunesaga
{quote} I have never heard of "Ichimoku Kumo" before. But since the name sounded good in my ears I had a look at it through Google search when you posted your question. I am going to have a look at it. Is it helping you a little bit or is it helping you a lot? Why and how is it helping you?
it is helping me more then I would ever have imagined... It is not ideal on less then 30 minute charts as you will get more traps, but on longer timeframes it is no.1 for picking the entry IMO. It is the only chart that takes forward thinking data, past data and present data all in one go and is very easy to understand at a glance.
Que Sera
  • #12,887
  • Jul 31, 2014 6:13am Jul 31, 2014 6:13am
Quoting ShadyAhmed
{quote}{quote} Hi there, I have blown 2 accounts already for over 4 k. Things are getting better now with Ichimoku, however I find it not that great for gold. It is awesome for Forex currencies but for gold I find it good for scalping up to 15 min chart. This market is so much manipulated and I can make profits only through hedging I agree with your analysis. Within the monthly chart we should not dip below 1178 by any means which is unlikely to happen, below 1178 by the end of the year we will dip badly which is again unlikely, that can happen...
Hi mate

yes I fully agree with that analysis, I find it is good on gold but it has to be on a longer timeframe than scalping in and out 10 times a day.

off topic, check AUD/USD all 3 indicators just about to break the cloud to the downside on the daily possible long run down.

sorry my reply is so short but I am on phone so not ideal. I wish you all the best luck and feel with the kumo you will turn the loss back round soon enough. I hope I will to .
Que Sera
  • #12,888
  • Jul 31, 2014 6:32am Jul 31, 2014 6:32am
Quoting Catempire
CT and everybody else... Just out of curiosity how many of you use the Ichimoku Kumo as part of your trading strategy? I appreciate any replies
Apart from Waleed.khan (Non Ichimoku trader I guess) whose posts I really like following on this board because they are full of good information rather random useless air, one of the most successful trader on forexfactory (mitchoss) trading only silver has had some really nice positive views about using Ichimoku on longer timeframes and he uses it and thanks that he shared this information with others. Below is the link to the post where he shared that information.

http://www.forexfactory.com/showthre...77#post7604777

I don't use Ichimoku myself (don't know why). But I have heard a lot of people doing good with it. Whackdiddy was one trader who used to trade Ichimoku on this board.
  • #12,889
  • Jul 31, 2014 6:50am Jul 31, 2014 6:50am
Quoting ClockTrader
{quote} Like he said, health is wealth..
Hey CT, Is there a increased demand for Gold during the Ganesh Festival in India?

Is it OK to anticipate Gold prices might rise during that time?
Gagz
  • #12,890
  • Jul 31, 2014 6:53am Jul 31, 2014 6:53am
Gold will head down below 1290 today
  • #12,891
  • Jul 31, 2014 6:55am Jul 31, 2014 6:55am
Sell crude below 99.75 targets @ 99
  • #12,892
  • Jul 31, 2014 7:19am Jul 31, 2014 7:19am
i am now short on gold @ 1294
Senior Trader Multi-Account Manager
  • #12,893
  • Jul 31, 2014 7:21am Jul 31, 2014 7:21am
Quoting Syed83
Gold will head down below 1290 today
any chart!! or you just thru this from your mind!!

even the price went down that doesnt mean you are pro.

thnx
  • #12,894
  • Jul 31, 2014 7:29am Jul 31, 2014 7:29am
Through my special working ofcourse
  • #12,895
  • Jul 31, 2014 7:34am Jul 31, 2014 7:34am
closed my short @ 1286.5
Senior Trader Multi-Account Manager
  • #12,896
  • Jul 31, 2014 7:34am Jul 31, 2014 7:34am
now my 1st long @ 1287.80
Senior Trader Multi-Account Manager
  • #12,897
  • Jul 31, 2014 7:35am Jul 31, 2014 7:35am
first target hit and beyond
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That which does not kill us makes us stronger
  • #12,898
  • Jul 31, 2014 7:35am Jul 31, 2014 7:35am
Quoting MCube
{quote} Hey CT, Is there a increased demand for Gold during the Ganesh Festival in India? Is it OK to anticipate Gold prices might rise during that time?
Well I think the only gold seasons responsible for the prices to rise in India since long time are festivals (Diwali) and Marriage season ( starts somewhere around diwali and ends in Feb-March. Marriage season in India has been the driving force behind the gold prices in India. If you google "Gold Demand Marriage season India" you will know in fact everything about it. Like Indian wedding planner Divya Chauhan quotes in this article Link "It's not vanity. It's just something so culturally ingrained in us that you can't have reasoning around it."

Now this year the new govt and the Reserve bank of India is fighting together to decrease the already out of hand fiscal account deficit that certain measures taken by the govt are creating a reluctance in demand right now as people still think that the prices of gold may fall further in India. But they are for sure to rise when the festival season in india starts and will continue till the end of the marriage season that is by the end of Feb although it stretches for few months.

Apart from that majority of Indian population still live in villages thus a bad harvest ( no rain ) usually means no increase in demand of gold as this metals happens to be the fav way to invest there money into. Stock markets rally on news about good monsoon by the weather department in India.

So no matter what happens because of the marriage season at the end of year (September to January) prices are likely to increase in the precious metals. There is no other science behind it no matter how much you say.

So because nowdays the gold is being piled up to keep up with the upcoming marriage season prices are sort of supposed to be a bit shady. One the 4th quarter starts so does the deamand of gold in india which actually is the second largest consumer of gold in the world.
  • #12,899
  • Jul 31, 2014 7:38am Jul 31, 2014 7:38am
If $1288 gets a 4hr or daily close then it could head into the mid $1260s next.
To live a successful life, we must lose our fear of being wrong
  • #12,900
  • Jul 31, 2014 7:41am Jul 31, 2014 7:41am
Gold prices signaling a test of 1284 while there are multiple resistances on the upside.
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