On the Gold daily timeframe we can observe based on the Ichimocu system that the price is below the cloud, Tekan sen, Kijun sen seem to be in a bearish formation and Chikou span is below the price.
Even though the Ichimocu system seems to be in a bearish mode a good practice before we start looking for any potential signals could be looking for the price to bounce on the Kijun sen.
Disclaimer: Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and education purposes. Personal Opinion of the Author does not represent and should not be construed as a statement or an investment advice made by TeleTrade. All Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
Risk Warning: Investment services are provided by TeleTrade-DJ International Consulting Ltd, a Cyprus Investment Firm under reg. number HE272810 operating in accordance with MiFID, under license 158/11 by the Cyprus Securities and Exchange Commission. Trading in leveraged derivative financial instruments carries a high level of risk and may not be suitable for all investors. Past performance is not a reliable indicator of future results. Indiscriminate reliance on informational or historical materials may lead to losses