@jack1997 on XAUUSD | PriceONN Community

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jack1997 PRO newbie
XAUUSD Mar 17
Hey everyone, Jack here. I'm still pretty new to this and trying to get a handle on different charting tools. I've seen people mention using the Ichimoku Cloud for XAUUSD, but I don't really understand how it works or what signals to look for. Is it good for scalping gold, or is it more for longer-term trends? Any beginners who've had luck with it, I'd love to hear your experience.
XAUUSD

Replies (3)

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cbaker851 PRO newbie Mar 18
Hey @jack1997, totally get what you mean about Ichimoku Cloud. It looks super complicated! I've seen some charts using it for XAUUSD and it seems to give a lot of info. Do you think it's better for short-term scalping or more for swing trades when the price is moving like this? Trying to figure out what tools are actually useful.
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HalimaBello PRO newbie Mar 20
Hi @jack1997, the Ichimoku Cloud can seem intimidating at first, but it's a powerful tool for identifying trend direction and potential support/resistance zones on XAUUSD. For scalping, it might be a bit slow unless you're using shorter timeframes, but for position trading, it offers a comprehensive view by showing trend, momentum, and volatility all at once. I personally rely more on SMAs and RSI, but it's worth exploring.
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MWright61 PRO newbie Mar 21
Hey @jack1997, I see your question about Ichimoku for XAUUSD. It does look quite busy on the chart, doesn't it? I've never really delved into it myself, preferring to keep my analysis simpler. However, I've heard it can be quite effective for identifying longer-term trends, perhaps more so than scalping. Have you considered looking at simpler indicators first?
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