Forex Trading System: Gold System

Gold System


Strategy:

Buy:

1. price above buy zone fib, blue rsi chart bar

2. William’s percent range indicator gold line entering or inside blue area
above -25.00

3. RSIOMA clearly crossed up

Sell:

1. Price below sell zone fib, red rsi chart bar

2. William’s Percent Range Indicator gold line entering or inside red area
below -75.00

3. RSIOMA clerly crossed down

Exceptions for opening a Trade when above conditions are met:

1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.

Conditions for closing Trade:

Safest

1. When price hits next pivot point line in direction of trade.

Moderately Safe

1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.

RECOMMENDED TIMEFRAME: 1 HOUR

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