JUST ANOTHER GOLD trading strategy.

All these strategies out here in the vault have start to look like a mini mlm type thing lmao.

So, okay, this is how I have been scalping Gold. Its kinda like Elyas, Kevin or Ted would trade gold, and
this too uses the same techniques.

I have literally been scalping Gold based on Candles and wicks. That’s it. No lie. So Im going to try to
explain it with as simplicity as possible. I would write this up in a way that a monkey with half a brain can
understand it.

So, I look for three things !

1. Support / Resistance (if you are NOT doing this already, (a) I hope your not trading live. (b) If you
are, just STOP!)
2. 4hr, 1hr and 15min time frame.
3. Trusting Analysis (if you are NOT doing this already, (a) I hope your not trading live. (b) If you
are, just STOP!)

Ok. So here is the time I trade gold. All times in EST

TIME I TRADE GOLD : 7am - 2pm

ONLY reason I LOOK for oppurtunities in Gold at 2pm is because that’s when there is a new 4hr candle.
That’s it.

Before I go into the charts. I think its really important to know the candle sticks, wicks and how ranges of
the wicks are used predict future movements etc. If this feels confusing, don’t worry ill try to keep it
simple stupid.

CANDLES: Everyone knows what a candle is.

WICKS: Wicks are the lines on the candles. I call them the top and bottom wicks. Now, these wicks are
also ranges. Now just imagine that a bearish candle is being made. And its moving down, after a bit, it
starts moving up and begins to create a lower wick right ?

**Now Stop, and just visualise that lower wick being formed. If you don’t know whaat im talking
about. Close this guide and go study candle sticks.**

Now THAT lower wick is like a range for the next candle which will be formed. So if the trend is down,
then the next candle will cover the previous candle’s range. Makes sense ?

If you look at the picture above, you can see that the next candle is filling the range.

Now before some of you start thinking about pointless questions, heres what I do. I just look for a
candle with two wicks **dosent matter how big or small the wicks** bouncing off of support or coming
down from the resistance or just in an uptrend.

So now lets look at a chart around 9amish:

Ok so here is how I look at s/r. The price has to be coming down from resistance or bouncing off of
support. Now in this case the Hourly candle is coming down from resistance, so you WAIT for the candle
to close. YOU WAIT!. Now you have to understand that the next candle HAS to retrace UP (because we
are in an HOURLY downtrend (4hr is also down I guess), to continue to fall. So now I’m gonna go into the
15min so look for a trade.
So 15min looks interesting. The hour candle closed with a 15min DOji. Now for all you DOJI lovers. Doji
candle DOSENT mean a reversal. It basically means that nothing happened. The price tried to move both
ways but failed to go ANYWHERE. So DOJI candle is a right off. So in my Analysis it should continue
down. So to make sure, lets go into the 5min cchart to see how that closed.

So the 5min tells me that theres more downfall coming. How do I know that? Because the time is 10am,
the new candle will be opening. And during this time the market is pretty volatile so there is a lot of
volume. Looking at the 5min chart you can see how price came down.. then created that hanging man
thing and then fell more, so now its consolidating on the 5min and should continue down.

Now lets look at the next 15min candle formed.

So that’s the next 15min candle. So if you notice, the candle retraced abit, and then kept falling.

This is the setup I really look for. Ill add more examples now to see if all this writing has really been
simple stupid.

Lets analyse the last two Bearish candles. Notice how the candle has a
lower long wick. So when taking my trade, I would consider the wick as a range. So price falls and
COVERS that range.
 Look at the two bull candles. These
are 15min candles. So I wait for the first bull candle to close, and I notice the long wick. Now I also know
that the price is bouncing from support and resistance is up somewhere there. Now the next candle will
either retrace down and continue up, or it will just move up. So I take a buy entry, and notice price
retracing, as it does I take more entries. As price moves up towards the wick to COVER THE RANGE I
keep a close eye on it. Depending how adventurous I feel, I let the price run or I close it as it reaches the
wick. All I do is stack positions and let them run for 50-100 pips.
 Lets look at the
first bearish candle. Now uptil now, You can kinda picturize the next candle being formed. So looking at
the strong close of the first bearish candle, I can imagine the next candle having a top wick and falling
down. So I take positions on retracements. You may wonder where my SL is lol. So my stoploss is
basically above the previous candle (below a bullish candle), so I make sure my risk is manageable. If
price goes above the prevsious candle wick, then that’s not a trade for me. So now just look at the
candles in the picture, and study how TRENDING candles have the wicks, and the wicks act as a range for
the next candle to complete. Its so simple trading for me.

Heres what you do now, since some of you already trade live, and if you really want to practice, PLEASE
practice with 0.01 lots. MINIMUM lots so you are not EXPOSING too much of the account. Watch for
candle movements and practice being in a drawdown as the candles have to make wicks some times to
continue in their direction.

I hope this was stupid simple.