Gold: Sell Signals Based on Ichimoku Indicator

About Gold I wrote in previous posts. You can get more details from those posts in related ideas.

This time, let's look at Gold market using the trading strategy based on Ichimoku indicator and 4H timeframe. The price broke the uptrend line and dropped below the cloud. It gave us a trend reversal signal and new bearish conditions. We can wait for reversal signals from Tenkan, Kejun, and the cloud in order to open sell trades.

As the price is above 1500.00 support zone, it will be a good idea to use a breakout signal for selling. If the price moves below 1495.00, the breakout can be used for opening sell trades with stop orders above the local swing high and profit targets at support levels. The same style of placing exit orders can be used for sell trades opened based on reversal signals.