Education

Intro To Gold Reversal Template

Updated

Hello, guys!

For those who still follow and read my setups! I want to give you something that can help you in trading!

This is a very beautiful template if you combine it with other tools you have in your arsenal.
Especially with Trend Lines and structure.

Please click on the share button under this idea, and then click on MAKE IT MINE, it will open up in a chart for you and go to 1 minute to monitor this template.

I will update rules below this idea.

Note

First and Foremost, this template will help us to make a buy decision at the yellow Trend Line I have.
From that Trendline, we should have a sharp move up, because Gold did not follow the rules before and 1346.9 is invalid for now.
Let me introduce you to the rules below.

Note

Okay, so this is a sell signal and a buy signal!

When Gold comes down, breaks 76.4% then breaks 61.8% by 40 cents but retraces up and breaks blue line by 70 cents then it should reach 61.8% higher.

In the first example, it is a sell signal. Gold breaks down 61.8% then try to go up but not break Blue 100% line by 70 cents so it is a sell.

In another example, you see that we have a small trend line for the range gold was in! As you can see Gold go down break 61.8% then go up and break 100% by 70 cents we know it should go up to 61.8% upwards.

Now I post another way of signal you can get.

Note

I must say that if Gold goes down and break 61.8% for it to go up it cannot touch 38.2 below 61.8. Then the buy signal is invalid.

Note

Another way for good sell signal is that Gold go up through 23.6 then 38.2 and break 38.2 by 40 cents then if it goes down and breaks 100% down by 70 cents it reaches 38.2 downwards.

But again gold should not touch 61.8 up after it breaks 38.2 up In this example it did not touch 61.8 but was close and come down. Look for 2 pips on Gold ( 20 cents ) in this case to touch 61.8 up it needed 24 cents so it was a valid sell signal.

Note

I do think that Gold will come down to reach trendline. And I do think it will go up after that, because of other signals I have and because it breaks the rules in the sequence on another template.

Amazing buy setup will be if Gold breaks 61.8 down around the trendline and not touch 38.2 and retrace, that will give us a great buy confirmation.

There are other rules to get signal but for now, it is enough for you.
You can make it larger by multiplying the reference point with 177, that way you get a bigger price room for bigger moves rules are the same.
I have this for EUR USD, DXY, USD JPY, EUR NZD, and soon I will finish discovering reference point for BTC USD.

Hope it helps you, for now, click on the share button and then click on make it mine so you can open this chart and monitor it in 1 minute.

Good Luck.
Template Valid to the end of the month.

Note

I must as well warn you that if you see signal it does not mean it has to go right away. Do not put 10 lots in. You have to know how to trade it. To know that, you need to monitor it for now, and see how far price can travel away from the signal

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I will prepare 2 templates for MetaTrader. For Gold and for EURUSD for this month, so you can apply them on your MT4 and first study how they work. Do not trade yet.

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Look here. A possible sell to 38.2 down. First, need to confirm that

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No confirmation was given with 38.2 since price touch 61.8%
BUT you have a different signal with a different rule. Watch for it.

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Another signal to watch for. Need confirmation

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I actually have no time to draw a metatrader template, and I don't know when I will have it.

But it is simple!

Here is the reference point for Gold this month - 1406.3
From 1406.3 count like this:
1406.3 + 5.9$ = 1412.2 + 5.9$ = 1418.1 etc
Same for downwards move.
And in between levels that you get just put Fibonacci - 23.6 - 38.2 - 50 - 61.8 - 76.4 ( reverse order . )

Same for EU. The reference point for this month is 1.1338
Simply do the same for upward 100% levels count 1.1338 + 59 pips
And for downward 1.1338 - 59 = and so on!

I am sure with time you will see a lot more rules that this template can show you and it can help you if you combine it with the right strategies.
Please don't ask me for reference points on other instruments

Good Luck.

Note

I quickly fill the lines and Fibonacci in for EU.
Last Good example just today. See break 38.2 by 4 pip fail at 100% ( blue ) and reach 38.2 downward.

Please monitor this template before you trade, you will see a lot more rules on it.

Please remember, only July these levels work. In August new reference point and these levels become invalid.

Note

See this

There is a possible signal. EU came down and break 61.8 by 4 pip.. it came lower and almost touch 38.2 which would invalidate the signal, but if you measure you see it is 2 pip away from 38.2 so signal is still valid. If EU can climb 7 pip above 100% then should meet 61.8 upward.

Note

Just now this was clearer than sky sell signal 38.2 > 38.2 + it was consolidating structurally for a drop

TheZabisyu

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