FX.co ★ Trade setup for Gold using Ichimoku cloud indicator

Gold price fell below support at $1,900 today and reached $1,892. However bulls stepped in and price is again above $1,900. Gold price is challenging the tenkan-sen at $1,906 and we keep a close eye on today's lows.

Price is still below the Ichimoku cloud resistance. If price breaks below $1,892 (4 hour candlestick close) then we get a sell signal and a target of $1,850 with stops at $1,913. Gold price is vulnerable to a move lower as long as price is below Kumo (cloud). Our trade is triggered if price breaks the blue support horizontal line and today's low.