Tuesday, 6 October 2026 · XAUUSD
Day 9 · Bitcoin & Gold
+14.9 gold pips−204 BTC pips−£5.151/3 winsBalance £349.72
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Both markets sold off in Asia. Bitcoin dropped from 86,129 to the 85,300s, and gold fell from 4,152 through last week's double bottom at 4,111 before bouncing hard.
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. Gold stop a flat $8; Bitcoin risk about £6 via lot size. Medium level 1R, strong level 2R+ or trail.
What happened
Bitcoin: the 02:00 UK hour wicked to 85,593 below the 85,638 level and closed back above at 85,662. I bought 0.04 lots at 85,606.74, stop 85,402.95 ($204). It got as high as 85,749 (+$142, short of 1R), then rolled over and stopped me at 04:30 UK: −£6.16. Gold: the 03:00 UK hour flushed to 4,104.3, through the strong 4,111 level, and closed back up at 4,130.3. I bought 0.01 lots at the 04:00 open, 4,130.69, with an $8 stop. The best it got was 4,133.7 (+$3); it drifted down and stopped me at 4,122.46 at 05:40 UK: −£6.27 after commission. New York: gold broke through 4,166 twice and was rejected at the 4,173 gamma Call Resistance. It then sold off and the 15:00 UK candle wicked to 4,143.6, under the 4,148 gamma Put Support, and closed back at 4,156.3, above an untested 1h level around 4,152 (the 6 Oct 02:00 high). I bought 0.01 lots at 4,156.35 at the 16:00 open, stop 4,147.86, take-profit 4,166.07, just over 1R. It barely went against me ($0.50) and hit the target at 16:33 UK: +£7.28 after commission.
Trades
A setup: 1h wick rejection of 85,638 (30 Sep high, medium): wick to 85,593, close back at 85,662; bought as the candle closed. Entered at 03:02 UK. Stop 85,402.95 ($204), 1R target. Best price 85,749 (+$142). Stopped at 04:30 UK. No commission on BTC.
A setup: 1h wick rejection of the strong 4,111 (last week's double bottom): wick to 4,104.3, close back at 4,130.3; bought the 04:00 open. Entered at the 04:00 UK open. Flat $8 stop. Best price 4,133.7 (+$3). Stopped at 4,122.46 at 05:40 UK. −£6.23 plus £0.04 commission.
Gamma + untested level: rejected at the 4,173 Call Resistance, then the 15:00 UK 1h wicked under the 4,148 Put Support and closed back above an untested 1h level (~4,152); bought the 16:00 open. Entered at the 16:00 UK open. Stop 4,147.86 ($8.49), take-profit 4,166.07 (about 1.1R) filled at 16:33 UK. +£7.32 before £0.04 commission. Jason's read: 4,166 no longer relevant after two clean breaks.
Lessons
- Two losses back to back, both taken by the rules at −1R each. Losing streaks are part of the strategy: the job is to keep the risk the same and not chase it back.
- This trade had a story: 4,166 lost its meaning after being smashed through twice, the gamma lines did the work (rejected at 4,173 Call Resistance, then at 4,148 Put Support), and the bounce came off an untested level. Lots of reasons lining up = confidence. Next step: hold confident trades a bit longer instead of taking just over 1R.