When will this ea be available to us?
Ready!! Set !! ......
Gold is setting up nicely for a plunge down to the February 25th swing level. Today's price action carved out a long-legged-Doji pattern (See Chart below). I personally interpret this candle formation as a mid-trend continuation pattern. Today's volume came in on the light side. A blast to the downside on higher volume will indicate a higher likelihood of the price of gold eroding to the 1000 level and below.
NOTE: Since the move of gold correlates closely to the move of the the EURUSD, this action will also signal a downslide in the EURUSD pair. I am currently projecting the EURUSD may reach the 1.3200 area under this scenario.
GOLDDigger EA Statistics:
Current AccountBalance Up 84% from March 1
Current AccountEquity Up 84% from March 1
Projection: To double account size within 1 month
.... Gold Takes The Plunge.
The February 25th swing low was finally tested today on lighter volume. Today's low and volume will have to be tested tomorrow on much lighter volume for a conviction to the up side. An increase in volume tomorrow over today's volume will confirm the flight from gold and for that matter further erosion in price for the EURUSD or GBPUSD currency pairs.
------- Gold Vol Daily Low
Today: -> 14350 1084.9
Feb25: -> 20309 1088.6
The GOLDdigger EA could not take advantage of the landslide and was left holding a basket of first cluster martingale of loses.
Current AccountBalance Up 88% from March 1
Current AccountEquity Up 61% from March 1.
Last edited by kengen; 03-24-2010 at 23:21.
Gold Volume on the light side but .......
The trading volume for gold came in on the lighter side today when compared to yesterday's volume. (See chart below). I was hoping the low of yesterday would be taken out today with this light volume, but the bears could not push it down any further. Under such a scenario, I anticipate a creep to the upside for the next couple of days and then a final surge to retest the low of yesterday. If this retest happens on lower volume than 14,350 (which was yesterday's volume) then we shall be looking at a run up to the 1133 price range. Otherwise ......
What a fluke!!!! What a fluke!!!! Bad trades were passed on to the GOLDdigger EA resulting in an abnormally high returns overnight. The account has ran from $17,000 to over $77,000 as a result. This action has adulterated the performance results of the GOLDdigger EA. (See Table below)
I wonder if the broker would have allowed these results to stand if it were a live account instead of a demo account.
Has anyone had a similar experience with their broker under a live or demo situation?
Current gain in AccountBalance is over 700% since March 1
Current gain in AccountEquity is over 700% since March 1
I am using http://www.brocompany.com/?br=12974
Broco Company — Online Forex Trading, Online Futures Trading, Stock Indexes Trading, Forex Currency Trading System. FX Trading (Foreign Exchange Trading) - Broco
as the broker for this Golddigger account.
Last edited by kengen; 03-26-2010 at 00:36.
GOLDDigger EA more than doubles in One Month
Gold is climbing a wall of worry as the volume tapers off with today's trading action.
The GOLDDigger EA has effectively doubled its account size from $10,000 during the month of March (After subtracting the bad trades which were filled last week). I will be truncating the summary reports starting April 1 to report new growth calculations at the current levels.
I will also be reporting detailed volume analysis of the EURUSD pair along with gold, so don't forget to come back at the end of each trading day to read my take on how I use volume analysis to supplement my trading strategies.
Hello !! Where are the players?
The major players seem to have stayed home, away from the gold markets today. Today's volume is the lowest since mid February (at 4200). With the expiration of GCJO set for April 28, I believe the major players are already looking elsewhere for greener pastures as they slowly unwind their holdings. The rookies will hung on till they are left holding empty baskets at expiration.
The beauty about the GOLDdigger strategy is that this market action is the most favorable for its operation.
The EA is currently up at $82,700 from $10,000 since March 1.
Gold Futures - Volume keeps Drying up
Today's volume on GCJO (Gold Futures - expiration April 28) came in shy of 1000 even as the high mark for yesterday was taken out. This indicates the lack of bull movers in the market. I expect a pullback from here.
Do you want to check out how the GOLDdigger EA has performed today? Click this link to find out:
MT4Live.com - Share Your MT4 Statements Free
Last edited by kengen; 04-01-2010 at 03:13.
The Big guys are leaving as quietly as possible. How do you tell? Leave your opinion by studying the attached plot and table.
Last Friday's volume came in at zero. Today's volume barely went past the 120 mark. Volume has dried up considerably as the previous swing high for March 17 is being retested. With no major players to help push the price above this swing point, the next logical direction is to go down and retest last week's swing low.
Very interested in this one. When or will it be available?
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