XAUUSD strategy: DOUBLE TOPS/BOTTOMS

Global Markets Commodities Oil and Gold
1

I have hear of this strategy a lot before but never actually backtested and tried using it. I noticed that XAU/USD (15 minute timeframe). has a lot of them and they actually work most of the time. It practically happens almost every hour. This is a very simple “strategy” that actually sort of works. If you look at the charts and look for these tops/bottoms you can see that the market almost always changes direction!

Screenshot 2024-10-22 at 21.19.52
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I guess you have to manage the risk and keep the sl tight and tp pretty big. It also doesnt really work in Tokyo and early London sessions.

2

I think those are easy to see in the past. You’d want some confirmation of the trend change or reversal.

Have you tried these live or on demo?

3

Yeah everything is easy to see in the past, but for the past few days they have worked out in real-time charts. It’s obviously not the best idea to use this strategy without any other indicators but so far it has worked out pretty well - only hard to find good tp and sl. :flushed: