The mini-Gold future trade is looking really good. Everyone is probably hearing the huge news on and the new target price of 1500. Do not let anything influence your trade at all. Let price action on the Ichimoku charts determine what you should do. In the last blog, we talked about going into PRESERVE mode. We do not want to give back our profits. Therefore, we were going to tighten our stop. Various methods were provided in the last blog. Below the 120 minute Ichimoku chart which shows the stop for this timeframe. If you want, you can use a 30 minute Kijun Sen – buffer as a stop. There is no right or wrong answer. It is what you are comfortable with. Remember, you can always re-enter later at a high price.
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
Ichimoku Gold Trade Update: 5-13-10