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Only Gold!

  • #12,921
  • Jul 31, 2014 9:16am Jul 31, 2014 9:16am
Quoting waleed.khan
{quote} I have heard great things about ichimoku too... I know a very successful trader who uses ichimoku. I personally don't but I might look into it in the future... Trading works very differently for everyone... some people feel better adjusted to one particular system, while others to a complete different system.; what matters is the individual (understanding the self [scrutinizing your own nature; your own behavior patterns etc)... It is usually after losing money that one starts a self reflection and education process... (its a complete psychological...
Thank you. I have a long way to go before I can fully feel like i am succeeding, but I truly felt i had a revelation when i got my head around the ichimoku trading system...

I have been investing for about 5 years now on the LON:Aim market and the reason i can see such great use of this system is that realistically you are always looking for that perfect entry point which ichimoku is brilliant at helping find.. For me and how i know my personality works it will remove all emotional attachment from the particular, stock, currency, commodity etc and just keep finding that perfect entry.. they don't come around every day so sticking to the plan and not getting side tracked by taking more risks and going in without that perfect entry also teaches patience witch is the biggest virtue both on and off the market and something i find both investors and traders quite often lack.. more often then not to their downfall.

Interestingly whilst i have been charting various stocks within the aim market i have found that the ichimoku system picks up good and bad news 1-2 days before the news is released based on the volume traded... This seems to work for shares trading within a very tight range for a long time and a sharp movement to the up or down side depending on whether the stock is being heavily bought or sold by the insiders...

Pretty astonishing really

Thank you for your kind words my friend I hope to become more apart of this thread now and although I will not be trading gold on a daily or even weekly basis I do plan to try and find the bottom or top of any 2-6month+ Bull or Bear run which the ichimoku can help indicate.

Hope you are all winning today.
Que Sera
  • #12,922
  • Jul 31, 2014 9:17am Jul 31, 2014 9:17am
if the middle holds over 1286.71
  • #12,923
  • Jul 31, 2014 9:23am Jul 31, 2014 9:23am
closed all shorts
  • #12,924
  • Jul 31, 2014 9:30am Jul 31, 2014 9:30am
1287 is demand zone?
  • #12,925
  • Jul 31, 2014 9:37am Jul 31, 2014 9:37am
Quoting Catempire
{quote} Thank you. I have a long way to go before I can fully feel like i am succeeding, but I truly felt i had a revelation when i got my head around the ichimoku trading system... I have been investing for about 5 years now on the LON:Aim market and the reason i can see such great use of this system is that realistically you are always looking for that perfect entry point which ichimoku is brilliant at helping find.. For me and how i know my personality works it will remove all emotional attachment from the particular, stock, currency, commodity...

Thanks for sharing...indeed patience is key! and please do let us know when you see the tops or bottoms; confluence of different opinions/systems can lead to better precision in trading!
  • #12,926
  • Jul 31, 2014 9:49am Jul 31, 2014 9:49am
Quoting waleed.khan
{quote} Thanks for sharing...indeed patience is key! and please do let us know when you see the tops or bottoms; confluence of different opinions/systems can lead to better precision in trading!
Yes of course, i have benefited massively from reading this forum over the last year and if there is anything i feel i can add i would be happy to do so.

GL
Que Sera
  • #12,927
  • Jul 31, 2014 10:12am Jul 31, 2014 10:12am
Buy limits on silver ranging from 20.20-20.30
  • #12,928
  • Jul 31, 2014 10:15am Jul 31, 2014 10:15am
As long as this is the case you can forget about any rallies…. Knew this at the close last week on that up move and was bearish , somehow talked myself out of my positions.. easy to do when you over leverage…. anyway as long as you got 80%+ long it's not gonna rally… of course it eventually will and the sign will be that # going lower...

Just like with S&P recently been 80% short for long time then it started drifting lower to 75% and lower and now it's in low 60%s and getting hit hard… go figure. There is no better indicator.
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  • #12,929
  • Jul 31, 2014 10:36am Jul 31, 2014 10:36am
Quoting Ck87
As long as this is the case you can forget about any rallies…. Knew this at the close last week on that up move and was bearish , somehow talked myself out of my positions.. easy to do when you over leverage…. anyway as long as you got 80%+ long it's not gonna rally… of course it eventually will and the sign will be that # going lower... Just like with S&P recently been 80% short for long time then it started drifting lower to 75% and lower and now it's in low 60%s and getting hit hard… go figure. There is no better indicator. {image}
CK - the beauty is when it eventually does rally it will be a longer more sustained run and hopefully maintain the new 12 month highs past 1450 which will indicate the end of the Bear run...

Golds range has been getting tighter and tighter for the last 14 months and there is only so long this can go on for till something pops... I'm sure it will be to the upside but if we do break the downside as i said yesterday if the monthly chikou breaks the kumo then this will head into free fall...

It passed through the weekly in Nov/Dec 2012 indicating the beginning of the fast drop to 1200/1300 and if it doesn't break to the upside in the next 12 months then every chance it will pass through and gold will fall to 800-700.

This is what i am waiting on before i initiate any long term longs or shorts.

GL guys
Que Sera
  • #12,930
  • Jul 31, 2014 10:39am Jul 31, 2014 10:39am
Quoting Catempire
{quote} CK - the beauty is when it eventually does rally it will be a longer more sustained run and hopefully maintain the new 12 month highs past 1450 which will indicate the end of the Bear run... Golds range has been getting tighter and tighter for the last 14 months and there is only so long this can go on for till something pops... I'm sure it will be to the upside but if we do break the downside as i said yesterday if the monthly chikou breaks the kumo then this will head into free fall... It passed through the weekly in Nov/Dec 2012 indicating...

Personally, I think the break out will be lower to around 1k before we have our final bottom.

I was bullish on gold from $600 levels all the way up to around 1700-1800 when it started getting euphoric and was very bearish from 1900 till now…. Don't think we've seen the bottom yet.
  • #12,931
  • Jul 31, 2014 10:42am Jul 31, 2014 10:42am
Quoting Ck87
{quote} Personally, I think the break out will be lower to around 1k before we have our final bottom. I was bullish on gold from $600 levels all the way up to around 1700-1800 when it started getting euphoric and was very bearish from 1900 till now…. Don't think we've seen the bottom yet.
I dont think we have seen the top either

GLM
Que Sera
  • #12,932
  • Jul 31, 2014 10:42am Jul 31, 2014 10:42am
Quoting Ck87
As long as this is the case you can forget about any rallies…. Knew this at the close last week on that up move and was bearish , somehow talked myself out of my positions.. easy to do when you over leverage…. anyway as long as you got 80%+ long it's not gonna rally… of course it eventually will and the sign will be that # going lower... Just like with S&P recently been 80% short for long time then it started drifting lower to 75% and lower and now it's in low 60%s and getting hit hard… go figure. There is no better indicator. {image}

Yeah I follow an Etoro sentiment gauge over there 88% positions were long ever since the 1300-10 range....

Also the kitco weekly sentiment.... Price more often than not goes the opposite way!
  • #12,933
  • Jul 31, 2014 10:46am Jul 31, 2014 10:46am
Quoting waleed.khan
{quote} Yeah I follow an Etoro sentiment gauge over there 88% positions were long ever since the 1300-10 range.... Also the kitco weekly sentiment.... Price more often than not goes the opposite way!

haha , investing dot com web retail sentiment over 70% gold longs. easy meat for big boys to reverse the trend and make killer
Scoobi doobi doo
  • #12,934
  • Jul 31, 2014 10:48am Jul 31, 2014 10:48am
Quoting Catempire
{quote} I dont think we have seen the top either GLM
We definitely have not seen the top. Very long term I'm super bullish… but people who joined the party late need to be utterly destroyed first. Once they throw in the towel and lose their money, we can go higher
  • #12,935
  • Jul 31, 2014 10:48am Jul 31, 2014 10:48am
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?
Not sure of this mate..
Hello World!
  • #12,936
  • Jul 31, 2014 10:48am Jul 31, 2014 10:48am
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
I don't use Ichimoku..
Hello World!
  • #12,937
  • Jul 31, 2014 10:49am Jul 31, 2014 10:49am
Quoting Catempire
{quote} CK - the beauty is when it eventually does rally it will be a longer more sustained run and hopefully maintain the new 12 month highs past 1450 which will indicate the end of the Bear run... Golds range has been getting tighter and tighter for the last 14 months and there is only so long this can go on for till something pops... I'm sure it will be to the upside but if we do break the downside as i said yesterday if the monthly chikou breaks the kumo then this will head into free fall... It passed through the weekly in Nov/Dec 2012 indicating...

This is the number one question...where is gold headed?

According to elliott waves... there is a conflicting opinion too... bearish on the weekly chart count but bullish on the daily chart count...

According to the daily count we have seen a double bottom and are completing 2nd corrective wave...

but on the weekly chart we are in a bearish abcde triangle which calls for more downside!
  • #12,938
  • Jul 31, 2014 10:49am Jul 31, 2014 10:49am
added 2 longs @ 1287

will add few more in low 1280ish if price drops till there in another 10 min, gota go after that..
Hello World!
  • #12,939
  • Jul 31, 2014 10:50am Jul 31, 2014 10:50am
Quoting waleed.khan
{quote} I would add that more than 70% blow their account in the first 3 months!
you sound right mate..
Hello World!
  • #12,940
  • Jul 31, 2014 10:54am Jul 31, 2014 10:54am
Quoting waleed.khan
{quote} This is the number one question...where is gold headed? According to elliott waves... there is a conflicting opinion too... bearish on the weekly chart count but bullish on the daily chart count... According to the daily count we have seen a double bottom and are completing 2nd corrective wave... but on the weekly chart we are in a bearish abcde triangle which calls for more downside!
Mate that is exactly why i'm not touching it till i get the signal from the kumo...

If you research back through the whole of every chart on every stock, currency commodity the kumo has always done 100% the same thing on every major movement...

When this happens it will indicate the direction for the long term and it will be the time to enter. For the long term.

You can also use it for shorter movements but anything less then daily and you are more likely to get trapped.

Worth reading into imo ...

http://www.dailyfx.com/forex/educati...oku_Guide.html

http://www.dailyfx.com/forex/educati...Reversals.html

If it takes a year for me to initiate my next trade on gold and it means i will not loose then so be it.
Que Sera
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