Forex Ichimoku Trading Strategy

Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradeable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher probability.

Sunday, 27 November 2011

GOLD Analysis 2011-11-27

Gold daily chart show the lower high in action. Thus we can consider that Gold in correction from down trend.

Gold is currently in Kumo (No trade zone for daily chart). However, Gold testing the Kumo as support.

A possibility of good trend when Gold break Kumo.

At 4H chart, Gold clearly under bearish trend and currently in correction phase.

Trade Idea:
Sell Gold when break the support line. Target is as shown in the chart.