Ichimoku Gold Futures: Trade Analysis 1/31/10

  • Home
  • /
  • Blog
  • /
  • Ichimoku Gold Futures: Trade Analysis 1/31/10

Below is the weekly chart of @YG Gold futures chart from Tradestation.   The weekly chart shows that gold futures are finally in a major pullback.   If the pullback causes a trend reversal, we are not sure yet because there are no clear signals yet.  We have to see what will happen.   Most like, there will be one last bullish run before the trend reverses.

Here is the daily chart.  It clearly shows we are are bearish.   Since the trend on the weekly is still bullish but in a pull back mode, we can not take a long term trade yet.  If you are countertrend trader, you can play the bearish trade on the daily chart.  If you are a “pure” trend trader then you have to wait for a clear bullish signal on the daily timeframe.

For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose