Simple Breakout System (GOLD)
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thread: Simple Breakout System (GOLD)

  1. #1

    Simple Breakout System (GOLD)

    Traders..

    I would like to discuss 1 easy trading system to get XAU/USD(GOLD)

    SOP:

    1.Monday-NO TRADE
    2. Timeframe H1 ONLY
    3. Count 7 CANDLES and mark SUPPORTRESISTANCE
    4. Any BEARISH CANDLE that violate SUPPORT is 'SHORT SETUP'
    5. Any BULLISH CANDLE that violate RESISTANT is 'LONG SETUP'
    6. TP in FIBO 261.8 SL in FIBO 50/38.2

    Cheers!!!

  2. #2
    Junior Member alicayhdz's Avatar
    21
    Can you elaborate more on your egy? Just like what GMT candle should we begin counting? Thank you

  3. #3
    Junior Member mrsexceptiok's Avatar
    15
    It appears a superb system. Really simple. Just how or what times do you opt for the 7 candles? This is the system's key. Thank you for sharing your knowledge and your experiences.

  4. #4
    Senior Member vctrgrr's Avatar
    174
    Why the numbers in your example aren't sequential? How do you assing the numbers? Is it important?

    From what I know. You are trying to get for your breakout of a 7-hour candle (with MT5 you may create this kind of candles). Or, are you looking for special candle pattern? Could you post more examples?

  5. #5
    Conducting a and just had a quick look and taking the initial break will provide you lots of action. You could bin any that included an LRC or anything.

  6. #6
    Can you elaborate more in your own egy? Like what GMT candle if we begin counting? Thanks
    just use 'period separator' for your first candle

  7. #7
    It sounds an excellent system. Really straightforward. How or what times do you opt for the 7 candles? This is actually the key of the system. Thanks for sharing your own experiences and your knowledge.
    Simply use 'period separator' for your 1st candle.u can Begin to track the installation 4 hours after the first candle

  8. #8
    Why the numbers on your case aren't sequential? Can you assing the numbers? Is it important? I know. You're trying to get for the breakout of a 7-hour candle (with MT5 you can make this kind of candles). Or, are you looking for candle pattern? Can you post illuions?
    Because u need to see the high and low for the support and resistance. Ever its up to u to place the number. Sr no candle pattern or etc

  9. #9
    Could you elaborate more on your own egy? Like what GMT candle if we start counting? Thanks
    will I know u used which broker?i will describe with your broker chart

  10. #10
    Installation for Now

    XAU/USD
    TF H1
    SETUP SHORT
    ENTRY PENDING ORDER SELL STOP @1287.24
    TAKE PROFIT FIBO 261.8 @1280.32
    SL FIBO 0.00 @1291.49


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