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GOLD TRADER UPDATE:
As of mid August 2020 a new and revised strategy on Gold Trader has been deployed with the key aim to prevent the generation of trades when major gold sell-offs occur.
Gold Trader is now manual, trades both long and short positions and trades over XAUUSD, XAUEUR and XAUAUD.
The core of the revised strategy is using 2 indicators over 2 different time frames with a trendline wedge filter to determine trade direction.
Trades are mainly in the Asian trading session with limited trades on Fridays.
FX TRADER OVERVIEW:
FX Trader uses the same methodology as Gold Trader and trades across EURUSD, USDCHF, AUDUSD, USDCAD and GBPUSD. The strategy works fine on other pairs, however preference is to focus on several more liquid currencies.
Trades are normally placed during the Asian trading session.
As of mid August 2020 a new and revised strategy on Gold Trader has been deployed with the key aim to prevent the generation of trades when major gold sell-offs occur.
Gold Trader is now manual, trades both long and short positions and trades over XAUUSD, XAUEUR and XAUAUD.
The core of the revised strategy is using 2 indicators over 2 different time frames with a trendline wedge filter to determine trade direction.
Trades are mainly in the Asian trading session with limited trades on Fridays.
FX TRADER OVERVIEW:
FX Trader uses the same methodology as Gold Trader and trades across EURUSD, USDCHF, AUDUSD, USDCAD and GBPUSD. The strategy works fine on other pairs, however preference is to focus on several more liquid currencies.
Trades are normally placed during the Asian trading session.
Cameron Gill
Gold is just going sideways and still jumpy with large spread.
Will be very interesting to see which trend-line is broken.
Some analysts are talking gold down and saying that after Easter there should be a break-down. Others are expecting a retest of the 1702 mark hit a few months back. They may both be right!!
Will be very interesting to see which trend-line is broken.
Some analysts are talking gold down and saying that after Easter there should be a break-down. Others are expecting a retest of the 1702 mark hit a few months back. They may both be right!!
· 3
Juan Antonio
2020.04.08
What is your prediction? Break-down or retest? xD
Cameron Gill
Hello followers,
Should have had a trade come on this morning however the spreads on gold pairs are high again on Pepperstone.
Have checked and the spreads on currency pairs are normal so am not sure why gold pairs are impacted. Pepperstone said that all brokers are affected however am going to do some comparisons.
Given that the Non Farms on Friday were terrible for USD I am surprised that gold did not shoot up further. This demonstrates that people are converting to USD, so we have a combination of dollar conversion and gold holding up in the circumstances.
Please also note that the difference between spot gold/silver and bullion is increasing even further, especially on silver. It does appear that spot and physical pricing of precious metals will continue to distance from each-other.
Should have had a trade come on this morning however the spreads on gold pairs are high again on Pepperstone.
Have checked and the spreads on currency pairs are normal so am not sure why gold pairs are impacted. Pepperstone said that all brokers are affected however am going to do some comparisons.
Given that the Non Farms on Friday were terrible for USD I am surprised that gold did not shoot up further. This demonstrates that people are converting to USD, so we have a combination of dollar conversion and gold holding up in the circumstances.
Please also note that the difference between spot gold/silver and bullion is increasing even further, especially on silver. It does appear that spot and physical pricing of precious metals will continue to distance from each-other.
· 1
Cameron Gill
Hello followers,
A quick update... Gold Trader does not trade the last 2 days of the month so am waiting for mid week for more trades.
End of month is a common time of volatility and expiring options. Also commercial traders often close positions at the end of the month.
Gold is still showing very high spreads and has been side-ways for the last 4 days. It feels like a major move is brewing. Analyst are predicting further downside, I am on the fence and am waiting for the charts to tell the story.
A quick update... Gold Trader does not trade the last 2 days of the month so am waiting for mid week for more trades.
End of month is a common time of volatility and expiring options. Also commercial traders often close positions at the end of the month.
Gold is still showing very high spreads and has been side-ways for the last 4 days. It feels like a major move is brewing. Analyst are predicting further downside, I am on the fence and am waiting for the charts to tell the story.
· 3
Cameron Gill
Look at this chart, have never seen this sort of price-action before.
Be careful at the moment on gold pairs. The spreads are very inflated and impacting Gold Trader profitability.
It is almost as if the charts are expecting something and cannot make up its mind as to what direction to go in.
Be careful at the moment on gold pairs. The spreads are very inflated and impacting Gold Trader profitability.
It is almost as if the charts are expecting something and cannot make up its mind as to what direction to go in.
· 2
Cameron Gill
Hello followers,
Wow, we have seen quite a recovery on gold.
I have still maintained my bullish view on Gold, especially considering the massive global money printing in play at the moment.
The last few days have been remarkable and my feeling is that with yesterday's performance on the stock markets that there is still further downside around the corner. Stock markets have been up 5% one day, down 10% the next and very choppy as the markets are trying to price in this global pandemic (the pin) as well as the collapse of financial markets (the over-inflated bubble).
What is interesting is that the spread on XAUUSD and XAUEUR has jumped for no apparent reason, almost to $5.00. I have contacted Pepperstone to ask for an explanation.
As for Gold Trader, unfortunately it does not pick up major moves like we have seen in the last few days. So am sitting on my hands waiting for some settling in price.
Wow, we have seen quite a recovery on gold.
I have still maintained my bullish view on Gold, especially considering the massive global money printing in play at the moment.
The last few days have been remarkable and my feeling is that with yesterday's performance on the stock markets that there is still further downside around the corner. Stock markets have been up 5% one day, down 10% the next and very choppy as the markets are trying to price in this global pandemic (the pin) as well as the collapse of financial markets (the over-inflated bubble).
What is interesting is that the spread on XAUUSD and XAUEUR has jumped for no apparent reason, almost to $5.00. I have contacted Pepperstone to ask for an explanation.
As for Gold Trader, unfortunately it does not pick up major moves like we have seen in the last few days. So am sitting on my hands waiting for some settling in price.
· 2
Cameron Gill
Hello followers,
I am continually amazed how market psychology is displayed in technical analysis with mathematical rules.
Look at the attached gold chart and how a Fibonacci retracement from two lows based on different times to a recent high to come back to a common 50% and 61.8% region before reversing.
I am continually amazed how market psychology is displayed in technical analysis with mathematical rules.
Look at the attached gold chart and how a Fibonacci retracement from two lows based on different times to a recent high to come back to a common 50% and 61.8% region before reversing.
· 1
Cameron Gill
Zoo Wee Mama...
What a huge sell-off. The buyers are just not there.
The previous daily channel did not hold and we now have higher highs and lower lows with the lows being dominant.
The reversal on DJIA is concerning, down 10% one day, up 10% the next. This is too volatile and am not expecting any normality in the markets next week. Part of me is saying to myself not to be surprised if the banks do not open next week and report an expended closing. I just do not believe the bounce on DJIA.
Looking at the daily gold chart it is hard to get a clear view of the next few days.
What a huge sell-off. The buyers are just not there.
The previous daily channel did not hold and we now have higher highs and lower lows with the lows being dominant.
The reversal on DJIA is concerning, down 10% one day, up 10% the next. This is too volatile and am not expecting any normality in the markets next week. Part of me is saying to myself not to be surprised if the banks do not open next week and report an expended closing. I just do not believe the bounce on DJIA.
Looking at the daily gold chart it is hard to get a clear view of the next few days.
· 1
Cameron Gill
Hello followers,
Wow, there was quite a sell-off on gold yesterday! Plus of course other markets crashing.
Many people look at the day in isolation and think it is the end of the world, however when you look at the charts over 2-5 years it is not that bad, it is more like a move back to the average longer term moving average.
My take on it was that the panic was about getting out of assets and back into USD.
Bitcoin took an early hammering, gold next and then when the US stock markets opened it was on for young and old! I noticed a trading halt and then a slight pull-back (indicating traders buying in) and then a close at a much lower level.
Of course the virus is a major concern on the markets, however this sort of correction was coming virus or not.
Are we over the worst of it? That is the question...(today will be interesting!!)
Looking at the gold chart we are at a cross-roads. Whilst gold did break the lower line, it did not close below and came back up. This indicates that the upper trend-line may hold. Today's close is important because if the close is below the upper line then it is not looking good for gold.
Honestly, I feel for those that have lost 'hard-earned' money in the markets yesterday and am sure that many people have profited from this correction.
The Gold Trader strategy was not impacted by the correction yesterday.
Wow, there was quite a sell-off on gold yesterday! Plus of course other markets crashing.
Many people look at the day in isolation and think it is the end of the world, however when you look at the charts over 2-5 years it is not that bad, it is more like a move back to the average longer term moving average.
My take on it was that the panic was about getting out of assets and back into USD.
Bitcoin took an early hammering, gold next and then when the US stock markets opened it was on for young and old! I noticed a trading halt and then a slight pull-back (indicating traders buying in) and then a close at a much lower level.
Of course the virus is a major concern on the markets, however this sort of correction was coming virus or not.
Are we over the worst of it? That is the question...(today will be interesting!!)
Looking at the gold chart we are at a cross-roads. Whilst gold did break the lower line, it did not close below and came back up. This indicates that the upper trend-line may hold. Today's close is important because if the close is below the upper line then it is not looking good for gold.
Honestly, I feel for those that have lost 'hard-earned' money in the markets yesterday and am sure that many people have profited from this correction.
The Gold Trader strategy was not impacted by the correction yesterday.
Cameron Gill
Hello Followers,
GOLD TO SILVER RATIO:
Keep an eye on the Gold to Silver ratio. It is a bit less than 100:1 and indicating that gold is over-valued and silver is way under-valued.
Silver has had a rough run recently and cannot explain why this would be the case. Silver has more industrial applications than gold and perhaps the recent closing of factories due to virus fears has been reflected in the price. However, fundamentally we have a dollar that is crashing and silver (and gold) are both solid commodities and stores of value.
The reason why Gold Trader is not Gold & Silver Trader is due to the fact that the correlations between the two are not accurate, silver chart tends to me way more volatile and it feels that silver is very jumpy whereas gold is more reliable for trend-lines and technical analysis. It is very clear that the volumes ($ not oz) on gold are higher than silver.
GOLD TO SILVER RATIO:
Keep an eye on the Gold to Silver ratio. It is a bit less than 100:1 and indicating that gold is over-valued and silver is way under-valued.
Silver has had a rough run recently and cannot explain why this would be the case. Silver has more industrial applications than gold and perhaps the recent closing of factories due to virus fears has been reflected in the price. However, fundamentally we have a dollar that is crashing and silver (and gold) are both solid commodities and stores of value.
The reason why Gold Trader is not Gold & Silver Trader is due to the fact that the correlations between the two are not accurate, silver chart tends to me way more volatile and it feels that silver is very jumpy whereas gold is more reliable for trend-lines and technical analysis. It is very clear that the volumes ($ not oz) on gold are higher than silver.
· 1
Cameron Gill
Hello Followers,
We had quite a roller-coaster yesterday and in the last week we have seen further bullish momentum on gold.
Will be interesting to see what Gold and Silver Club analyst reports next week as he was talking short orders at 1609. We had a consequent move up to 1690.
Unfortunately for the Gold Trader strategy it does not pick up on those major moves, only ranging long trades. Fortunately for Gold Trader strategy it does not get caught up in major sell-offs (well hasn't to date anyway!).
Looking at the chart we can see that move on Friday where the Non Farm Payrolls reading was announced and was opposite to expectations. So we saw a move up prior in anticipation of a negative reading for USD, then the announcement which saw the move down, and then finally I think that traders thought that the announcement was fudged and bought back in to move back up.
Next week will be interesting and am hoping that Gold Trader picks up a few trades. Last week was an extremely quiet week.
We had quite a roller-coaster yesterday and in the last week we have seen further bullish momentum on gold.
Will be interesting to see what Gold and Silver Club analyst reports next week as he was talking short orders at 1609. We had a consequent move up to 1690.
Unfortunately for the Gold Trader strategy it does not pick up on those major moves, only ranging long trades. Fortunately for Gold Trader strategy it does not get caught up in major sell-offs (well hasn't to date anyway!).
Looking at the chart we can see that move on Friday where the Non Farm Payrolls reading was announced and was opposite to expectations. So we saw a move up prior in anticipation of a negative reading for USD, then the announcement which saw the move down, and then finally I think that traders thought that the announcement was fudged and bought back in to move back up.
Next week will be interesting and am hoping that Gold Trader picks up a few trades. Last week was an extremely quiet week.
Cameron Gill
Hello followers,
Have not had any trades come up so far this month.
I do not want to get into trades too early and the EA entries are just not being triggered.
What is interesting is that a gold/silver analyst that I check weekly was promoting sell orders at 1508. These would have been triggered and would now be in a decent draw-down.
The last few days demonstrate why Gold Trader is buy only as if it included shorts I would expect to have been caught in the recent move.
The obvious reason for the quick bullish move back to higher region is the lowering of interest rate and panic around virus. Many reserve banks are talking further stimulus, which is not good for fiat currencies.
We have NFP on Friday so will wait and see.
There is a chance no trades will be generated this week.
Have not had any trades come up so far this month.
I do not want to get into trades too early and the EA entries are just not being triggered.
What is interesting is that a gold/silver analyst that I check weekly was promoting sell orders at 1508. These would have been triggered and would now be in a decent draw-down.
The last few days demonstrate why Gold Trader is buy only as if it included shorts I would expect to have been caught in the recent move.
The obvious reason for the quick bullish move back to higher region is the lowering of interest rate and panic around virus. Many reserve banks are talking further stimulus, which is not good for fiat currencies.
We have NFP on Friday so will wait and see.
There is a chance no trades will be generated this week.
· 1
Cameron Gill
2020.03.07
Hi there, yes Gold Trader is EA and manual. Around 60% of trade entries are EA, rest are manual. Majority of trades are closed manually and all trades are monitored.