Monday, 5 October 2026 · BTCUSD
Day 8 · Bitcoin & Gold
+3.6 gold pips+285 BTC pips+£8.862/3 winsBalance £354.87
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Bitcoin rallied about $1,600 overnight from Sunday evening's 85,400 into the 86,900–87,000 area: Friday's Asia high, just under the round 87,000 and below the 87,300–87,390 weekly high. Gold opened the week under pressure: sold from 4,163 overnight (just under the strong 4,166 level) back to Friday's NFP low.
Key levels
The plan
- 1h/4h rejection strategy only: a 1-hour candle wicks through a level and closes back, trade the next hour's open, stop beyond the level, 1R for an A setup.
What happened
The 02:00 UK hour pushed to 86,988, through Friday's Asia high at 86,900 and almost to 87,000, then fell back to close at 86,602: a 1-hour rejection. I sold 0.04 lots at 86,608.80 as the candle closed, with the stop at 86,880.56 ($272 risk) and the take-profit at 86,324.23 for about 1R. The highest it went against me was about $130. It filled at 86,323.33 at 04:23 UK: +£8.65. On gold, the 05:00 UK hour dropped to 4,124.7, $0.50 through Friday's NFP low, and closed back at 4,131.4: a 1-hour rejection of a medium level, against an overnight bearish lean. I bought 0.01 lots at 4,131.50 as it closed, stop 4,123.02 ($8.48) and take-profit 4,140.24 for 1R. The first push up stopped 5 cents short of the target (high 4,140.19); I left it alone and it filled at 06:44 UK: +£6.58 after commission. In London, gold rallied back to the strong 4,166 level. The 08:00 UK hour only tapped it (high 4,166.34, $0.34 over) and closed back at 4,160.4. I sold 0.01 lots at 4,161.22 with an $8 stop. The best it got was 4,159.14, about $2 in profit, then price pushed through 4,166 and stopped me out at 4,169.60 at 09:16 UK: −£6.37.
Trades
A setup: 1h wick rejection of 86,900 (Fri Asia high, under 87,000): wick to 86,988, close back at 86,602; sold as the candle closed. Entered at 02:58 UK, about two minutes before the 02:00 UK candle closed. Stop 86,880.56 ($272), take-profit 86,324.23 filled at 86,323.33 (about 1R). Risk about £8.20 at 0.04 lots, larger than usual. No commission on BTC.
A setup: 1h wick rejection of the Fri Asia low / NFP low (4,125–4,134, medium): wick to 4,124.7, close back at 4,131.4; bought as the candle closed. Entered at 05:59 UK as the 05:00 candle closed. Stop 4,123.02 ($8.48), take-profit 4,140.24 (1R, medium level) filled at 06:44 UK. The first push topped at 4,140.19, 5 cents short. +£6.62 before £0.04 commission.
A setup (weak): 1h close back below the strong 4,166 level, but the candle only tapped it (high 4,166.34), no proper wick through. Entered at 08:59 UK as the 08:00 candle closed at 4,160.39. Flat $8 stop. Best price 4,159.14 (about $2 in profit). Stopped at 4,169.60 at 09:16 UK. −£6.33 plus £0.04 commission. Lesson: a tap isn't enough confirmation.
Lessons
- Bitcoin stops are wide: $272 at 0.04 lots risked about £8.20, nearly double my usual. Same setup at 0.02 lots would have risked about £4.10. Size from the stop.
- Price stopped 5 cents short of my gold target, then hit it. I left the trade alone instead of grabbing profit early. Plan first, then let it play out.
- A tap is not a rejection. Only take the trade when the 1h candle wicks properly through the level and closes back: 4,166 was touched by $0.34, not tested, and it broke straight after.