Showing posts with label Ichimoku Cloud. Show all posts
Showing posts with label Ichimoku Cloud. Show all posts

Friday, August 28, 2015

Roundup Of Recent Posts

I have been spending quite a bit of time on Renko trading strategies and also attempting to automate a Renko strategy, not much luck so far with the automation, Renko bars do not seem to work  well in automated trading for me.

The past couple weeks have been very volatile for traders. We have been dealing with the adjustments in the Chinese markets, fallout from the crisis in Greece and the supposed rate adjustments in the US.

Interesting times for all.

It appeared as the markets closed for the week that some stability may have returned, but we will have to see what happens when the markets reopen for next week..

Certainly there are adjustments happening in the currencies and that will probably continue for quite a while.

Enjoy the weekend!

Gold Analysis As At August 14, 2015
Ichimoku Renko Trading Strategy
Roundup of Posts for the Past Week
Renko Charting Explained
Chinese Yuan – What Has Happened?
US Dollar Index Trading Strategy As At August 15, 2015
Renko Awesome Oscillator Divergence Trading Strategy
Awesome Oscillator Renko Divergence Trade from August 17, 2015
7 Ways to Optimize Your Trading Strategy
Renko Trading Strategy EURUSD August 28, 2015
Highest Traded Individual Stocks Yesterday - from August 27, 2015
Highest Trading Stocks From Yesterday, August 28, 2015

Friday, August 14, 2015

Ichimoku Renko Trading Strategy


You will find this Renko Strategy to be extremely simple and also very profitable as a quick scalping method. Once again, the indicators for this system are included in most trading packages or are freely available for download on the internet.

The only indicator I use for this method is the Ichimoku Kinko Hyo and I just use the Ichimoku Cloud and Tenkan Sen.

The Renko blocks are three (5) pips, they move quickly when the markets are busy.

The Strategy

You can see from the chart how well this method allows a trader to follow the trend.
For a long entry – price is above the Tenkan and also above the Kumo
For a short entry – price is below the Tenkan and also below the Kumo.
As you can see, the Renko bars point out clearly the places for adding to positions or re entry.



I put some arrows on this next one to show a couple entries.

For myself, I have been trading for many years, longer term trading and also day trading. I find this method of using the Ichimoku cloud and fast Renko Bars to be quite effective and profitable. The simplicity of this method allows me to have several charts open at once so as to make trades on different currency pairs simultaneously..

Of course a person can not expect to master this set up in a few minutes, it will take many hours of screen time and demo trading to get used to it.

Keep in mind that the better trades are made in a market that is trending with volume. I suggest that you look at another currency when the Kumo is flat in order to avoid the irritation of your stop being met.
In a future post I will discuss this method with CFD’s, it works just as well with all nature of CFD’s.


Gold Analysis As At August 14, 2015


Is Gold Starting to Move Up or Is This A False Start?


It may well be that it is time to re examine your gold trading strategy as there may be some opportunities very soon.

You will see some interesting things in these charts and also in the articles lower on the page. The devaluation of the Yuan and the increased position in Gold by China have excited the metal.


This first chart is a monthly chart on Gold showing three drives to the bottom and that will be a bullish pattern.




Today, price met the pivot and reversed.



The resistance is in the 25% retracement area, which leads me to wonder if this reversal is very strong. Perhaps we will know next week if this is a retrace and that we will see a stronger advance.


The Ichimoku chart demonstrates that a great rise in price will encounter a lot of resistance as price meets the Ichimoku cloud. There has been downward pressure on the price of Gold for many months, only for a short time could it attempt to push through the cloud.


Here is the Point and Figure chart for Gold, it is not showing any great signs of an advance.




Here are some recent articles discussing various aspects of the gold market


XAU/USD Corrects Lower To 1114 - Action Forex Fri, 14 Aug 2015 08:41:00 GMT

XAU/USD Corrects Lower To 1114Action ForexXAU/USD Corrects Lower To 1,114. 'A further decline in volatility may reverse some of bullion's recent 'safe-haven' inspired gains.' - HSBC (based on CNBC). Pair's Outlook. Gold declined on Thursday, as worri ...

Read more ...

FxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ... - EconoTimes Fri, 14 Aug 2015 10:21:00 GMT

EconoTimesFxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ...EconoTimesAlthough XAUUSD has finally shown a bounce back after long streaks of bear candles but its reversal is yet be confirmed by other indicators. It has sho ...

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Gold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone Eyed - CFD Trading Fri, 14 Aug 2015 12:06:00 GMT

CFD TradingGold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone EyedCFD TradingThe rebound in gold continues towards a major zone of resistance between 1130 and 1160. This area constitutes the November low at 1130, March low at 1142, and ...

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Gold is Crashing! No, Wait, it's Booming! So What's Really Going on With Gold? - TIME Fri, 14 Aug 2015 14:59:00 GMT

TIMEGold is Crashing! No, Wait, it's Booming! So What's Really Going on With Gold?TIMEGold is a little strange as far as commodities go. You don't run your car on gold. It doesn't heat your home, and you can't eat it. It doesn't generate profits or p ...

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Why Now Is A Great Time To Buy Gold - Forbes Fri, 14 Aug 2015 07:29:47 GMT

ForbesWhy Now Is A Great Time To Buy GoldForbesWith gold's recent decline to below $1,100 an ounce, I believe today is one of the best times to own gold. My three reasons for buying gold that I discussed in February have remained valid. I now want to ...

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Gold's loud message to stock bulls - MarketWatch Fri, 14 Aug 2015 18:33:00 GMT

Gold's loud message to stock bullsMarketWatchGold is a controversial metal. Some people hate it as an investment because it provides no income, and is a "relic of the past.” Some people love it, arguing it is the safest form of currency in the world ...

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China reveals increase in gold holdings - Financial Times Fri, 14 Aug 2015 10:30:46 GMT

Motley FoolChina reveals increase in gold holdingsFinancial TimesChina released data on its gold holdings for the second time in a month on Friday in a sign of greater transparency as it moved to an international standard of reporting its reserves. T ...

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Gold Caps Biggest Rally Since June as Haven Appeal Shines Again - Bloomberg Fri, 14 Aug 2015 15:16:34 GMT

ForbesGold Caps Biggest Rally Since June as Haven Appeal Shines AgainBloombergGold capped the biggest weekly gain in two months as the metal's haven appeal finally started attracting investors again. China's unexpected yuan devaluation this week roil ...

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Saturday, January 17, 2015

Gold Analysis as at January 17, 2015

Your Gold Trading Strategy will have been altered significantly this week as the metal has made a strong move north.

I have a few charts with some notations for you to have a look at, below those is some current commentary which you may find of interest.

This first chart shows Harmonics and may indicate there will be a reversal.

Here is the pivots on the weekly chart, price has stalled there, at least termporarily.

The Ichimoku Cloud appears to be offering significant resistance on the weekly chart.

On this next chart, which is weekly we can see a bearish Fibonacci pattern

And on this weekly chart we have a bullish Fibonacci Pattern

Now we have the Point & Figure Chart from They have revised the target from $1,050 to $1,510 so this weeks move had had an effect on the P&F calculations.

Swiss shock no 'game changer' for gold? - CNBC

Fri, 16 Jan 2015 12:39:36 GMT
CNBCSwiss shock no 'game changer' for gold?CNBCBut on the negative side, she said that the momentum for the Swiss franc—which surged 30 percent against the dollar on the SNB's move–created competition between the Swiss franc and gold as a 'safe haven ...

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Gold Climbs to Four-Month High as Open Interest Surges - Bloomberg

 Fri, 16 Jan 2015 06:16:31 GMT
Wall Street Journal (blog)Gold Climbs to Four-Month High as Open Interest SurgesBloomberg“There's a lot more uncertainty in Europe and the U.S., and that's piqued a lot of investors' interest in gold,” Fain Shaffer, the president at Infinity Trading ...

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2015 Stock Picks: Our Gold Plays Surge Ahead This Week - Money Morning

Sat, 17 Jan 2015 04:16:44 GMT
2015 Stock Picks: Our Gold Plays Surge Ahead This WeekMoney Morning'The past couple of years have seen considerable pressure on most gold equities, thanks in large part to a declining, then consolidating, gold price,' Money Morning Resource Specialis ...

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PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013 - Reuters

Fri, 16 Jan 2015 21:51:10 GMT
PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013ReutersNEW YORK/LONDON, Jan 16 (Reuters) - Gold rose to a four-month high on Friday and was set to increase 4.5 percent for the week, its biggest weekly gain since August 201 ...

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Friday, January 16, 2015

Gold Ichimoku Trading Strategy as at January 15, 2015

Gold has experienced a nice upward move in the past few days, it is time to examine the trading strategy with a view to support and resistance.

The Ichimoku Cloud does a great job of demonstrating potential support and resistance. We will have a look at  some different time frames to see what may be in store for the metal.

The first chart is the monthly. You can see that price is approaching the resistance of the cloud and if you look back a few bars you can see that it has attempted to go through the cloud more than once and been rejected.

This is the weekly chart, once again price is approaching the cloud. At this point the cloud is not very thick and may not present much resistance.

The daily and 4 hour charts show that price is above the cloud which will be acting as support.

Some additional commentary on Gold

Jeff Gundlach Webcast, January 13 - Business Insider Tue, 13 Jan 2015 13:07:45 -0800
The best commodity in 2014 was gold. Screen Shot ... Gold gained ground in basically every currency except the US dollar in 2014. ... "Gold is on a stealthy rally and I suspect gold is going to be headed higher not lower." ...

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Sat, 10 Jan 2015 00:57:00 -0800
Contrarian, gold & precious metals. Profile| Send Message|. x. Author Following Options: Follow this author. See their articles on your Seeking Alpha homepage and in your feed. Real-time alerts on this author. Get their new ...

Wednesday, January 14, 2015

USDJPY Ichimoku Chart Of The Day

Price is starting to test support of the Ichimoku Cloud. This will be interesting as economic reports appear later in the day.

USDJPY holding 117.00 as Nikkei falls again - ForexLive (blog)
Wed, 14 Jan 2015 05:56:45 GMT
USDJPY holding 117.00 as Nikkei falls againForexLive (blog)Mike Paterson has more than 30 years of experience trading FX including key market-making roles as a senior spot trader with UBS and Credit Suisse. He was also head of FX at the State Bank of ...

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USD/JPY Technical Analysis: Support Below 118.00 Pressured - DailyFX

Tue, 13 Jan 2015 23:56:45 GMT
USD/JPY Technical Analysis: Support Below 118.00 PressuredDailyFXThe US Dollar is testing the bottom of now-familiar range support below the 118.00 figure against the Japanese Yen once again. Near-term support is at 117.91, the 23.6% Fibonacci retrac ...

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Gold Drops After Meeting the Ichimoku Cloud

The resistance of the Ichimoku Cloud has halted, at least temporarily, the rise in Gold

Sunday, November 23, 2014

My Gold Trading Strategy as November 23, 2014

The new week is about to test our trading strategies. Governments will be making their moves, traders will be in and out of the market and who knows what is coming for Gold.

There are a lot of opinions, Gold is going to $5,000 and Gold is dropping to $800, I will post some opinions further down in this post.

First I will post a couple charts, Ichimoku Kinko Hiyo charts, reason being is, they have something to tell us about support and resistance.

Here is the daily chart of XAUUSD

It is easy to see that the is going to be resistance at the Ichimoku Cloud. It appears that the Cloud becomes narrower as days pass, maybe resistance to a price rise will lessen.

The weekly chart is next.

Once again we see the Ichimoku Cloud creating resistance although the Cloud is much thinner than on the daily chart.

Finally, the Monthly chart.

It took a couple months for price to break down through the Cloud and then finally support was broken. The November bar has a long wick, showing that the bulls are making progress....

As mentioned earlier in the post, I found some recent articles and opinions about Gold as follows:

Russia's Central Bank Buying Gold Isn't Quite What You Think It Is - Forbes

Sat, 22 Nov 2014 11:42:03 GMT
The Russian central bank has been buying more gold this year. This could be taken as some form of support for the price of gold, could be taken as simply the bank deciding that t ...

Read more ...

Swiss Central Bank Chief Warns on Impact of Gold Vote - Wall Street Journal
Sun, 23 Nov 2014 13:31:49 GMT

ZURICH—The head of the Swiss National Bank reiterated concerns that a popular vote on requiring the central bank to keep a fifth of its assets in gold would hi ...

Read more ...

Gold No Longer Slumbers - Barron's
 Sat, 22 Nov 2014 03:15:13 GMT

But after pummeling gold steadily lower from its peak around $1,900 an ounce in September 2011, he is showing signs that he could be done dumping on the metal, which hit a low of $1,131.85 an ounce this month. Gold-mini ...

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Many are seeing the moves by China as bullish for the price of Gold.

Chinese rate cut pushes gold, silver to highs - Resource Investor
Sun, 23 Nov 2014 11:44:43 GMT

The rate reduction was the first since July 2012 as the Asian nation heads toward its slowest full-year expansion in almost a quarter century. Russia added to gold reserve ...

Read more ...

This infographic is really well done!

InfoGraphic on the Swiss Gold Referendum to take place on November 30th - CoinWeek

Sun, 23 Nov 2014 14:37:40 GMT

On November 30, Swiss nationals head to the polls on three separate issues: abolishing a flat tax on resident, non-working foreigners, an immigration cap, and a proposal o ...

Read more ...

Gold / Silver / Copper futures - weekly outlook: November 24 - 28 -
Sun, 23 Nov 2014 13:38:11 GMT

Despite Friday's upbeat performance, gold prices are likely to remain vulnerable in the near-term amid indications a strengthening U.S. economic recovery will force the Fed ...

Read more ...

Good Trading in the week ahead...!

Friday, November 21, 2014

My Gold Trading Strategy as at November 21, 2014

Will the Butterfly make your trading strategy bullish?

This is a weekly chart and it seems that the butterfly pattern is having an effect as the price of Gold has been rising for three weeks.

Let's see what happened this week with the weekly pivot.

Right from the start of the week there was a bullish sentiment and the resistance was tested early before Gold dropped to bounce off the weekly pivot. Friday the resistance was tested again and ultimately the close was less than the resistance.

Now we can have a look at the Ichimoku chart and we can see that the price will meet the resistance of the Ichimoku Cloud with a further gain of ten dollars. You can see that recently price has approached the Cloud twice and been refused both times. Definitely there will be resistance to an upward move for a while, at least according to the Ichimoku Cloud.

Next we can have a look at the Point & Figure chart for Gold.

I have marked the resistance at $1,220.00 and you will notice that the bearish target is still set at $1,050.00. 

Next week will bring more excitement as Gold looks again for direction, hopefully our trading strategy will be profitable.

Good Trading...!

Sunday, November 16, 2014

Ichimoku Trading Strategy Chart of the Day, November 17, 2014

AUDNZD: After a pair of Dojis there is a Tenkan cross and price is dropping, a clear signal for a short entry.

There had been significant support holding price up for many days and the Ichimoku Cloud could not be breached with many attempts. At last price was able to break through the cloud and there should be a good move resulting.

Ischimoku Kinko Hiyo is an excellent trend trading strategy used by many banks and institutional traders.

Saturday, November 8, 2014

How Can Ichimoku Help Your Trading Strategy?

The Ichimoku indicator is a complete trading system in itself and several master traders, including people trading for funds and banks use it for their trading strategy.

I am not going into the development of this system in this post, instead I want to illustrate my use of the Ichimoku cloud.

Let's have a look at a chart:

I have placed 4 arrows on the chart, the first two point to two things, the first being the thickness of the cloud and the second being the two attempts to break through the support. Of course the thin cloud is not going to offer a great support and price can break through easily.

The third and fourth arrows are meant to illustrate that the cloud is becoming thicker and there will be stronger resistance for price to cross in that area. That tells us that a quick rise in price may be difficult to accomplish. Notice that the cloud is extended 26 bars into the future, gives us an idea as to what may be coming.

Here is a chart on Google.

On this chart I have again placed 4 arrows. The first three illustrate the support, three times price tried to break support offered by the cloud and finally on the fourth attempt was able to break through. The fourth arrow shows a thin area of the cloud that price was easily able to break. You will notice if you take time that it often takes more than one attempt to get through the cloud.

One more chart. This chart is the SPX.

Again 4 arrows!. The first two demonstrate the hesitation at support, the third shows the long wick as the buyers took control at the support level and the last one shows..... price had no regard whatsoever for the resistance of the cloud and burst right through it. I think that confirms that we can not rely solely on an indicator, that we must always use price action for decision making.

I have some resources regarding Ichimoku trading strategies, here are a couple links.

The first is .

Also Investopedia .

Enjoy your day..!!