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Gold Trader

Gain : +152.7%
Drawdown 37.69%
Pips: 24411.0
Trades 639
Won:
Lost:
Type: Real
Leverage: 1:400
Trading: Manual

Gold Trader Discussion

Cameron Gill (camerongill)
Mar 12 2020 at 22:28
110 posts
Felhagamand posted:
According to my observations, interesting situations with silver are rare, maybe this metal is not very popular?!


Yes, that does appear to be the case. I thought as it is used in solar panels, circuit boards and most importantly human internal instruments (such as pace-makers for an aged population) that it would be more popular from an industrial perspective.

The fact that Bitcoin took a hammering before gold and silver yesterday is very interesting.

Cameron Gill (camerongill)
Mar 12 2020 at 22:32
110 posts
KhoiDam posted:
I think I use gold much more often because this asset correlates perfectly with the U.S. dollar and therefore it is much easier to make quality forecasts.


I have trouble forecasting gold and did not see the move yesterday on the books.

My thinking was that if the USD was taking a hit then the price of gold would go up. A bit like a see-saw on the XAUUSD pair.

In my opinion, what we had yesterday was a sell off on gold and strengthen on USD.

Cameron Gill (camerongill)
Mar 12 2020 at 22:38
110 posts
Saithirana posted:
I would not say that silver is an asset that is rarely used in trading. I have many acquaintances who actively earn on metal values and it brings them pleasure. Another thing is that news that would be related to silver happens an order of magnitude less frequently than news on gold or platinum. On the other hand, silver is less susceptible to strong jumps, and as a rule, the price of this goes from level to level, which allows you to competently think out long-term positions.


Yes, it is interesting, sometimes silver makes a move prior to gold, other times there is a lag and delay of move after gold.

Still, I am bullish on silver and gold.

My basic thinking is that with all the money that is being printed and the devaluation of the dollar out of existence, then where can someone hold something of value? Gold and silver have been stores of value for thousands of years.

Why would someone save up a big pile of cash only to have it devaluing as they sleep? Maybe before when you received a return of interest on your deposits, however those days have passed us.

Holding a silver or gold coin has no counter-party risk. Whereas holding a dollar is holding a bit of paper that a government's claim that is worth is based on faith and confidence that someone else (buyer/seller) believes that it is worth something.

Fascinating times...

Cameron Gill (camerongill)
Mar 12 2020 at 22:55
110 posts

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-road. 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.

We are in unprecedented times and it is quite clear that even more economic stimulus (money printing) at the top end of town is not working.


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Cameron Gill (camerongill)
Mar 14 2020 at 03:04
110 posts

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 and find it difficult to believe that Trump declaring an emergency around the virus could turn things around like this.

Looking at the daily gold chart it is hard to get a clear view of the next few days.



Am still bullish on gold even with the charts showing the opposite.

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BlueEye (BlueEye)
Mar 18 2020 at 10:33
28 posts
Like your patient and discipline, clap for you.

Cameron Gill (camerongill)
Mar 18 2020 at 11:46
110 posts
BlueEye posted:
Like your patient and discipline, clap for you.

Thank you BlueEye, I appreciate your feedback. Regards, Cameron

Cameron Gill (camerongill)
Mar 20 2020 at 01:09
110 posts

Hello followers,

I am continually amazed how market psychology is displayed in technical analysis with mathematical rules.

Look at the below 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.





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Cameron Gill (camerongill)
Mar 24 2020 at 23:25
110 posts
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.

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Cameron Gill (camerongill)
Mar 26 2020 at 08:50
110 posts
Hello followers,

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.


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