#2 Training Video for 1 Minute Gold Line

About this video

• Video Title: #2 Training Video for 1 Minute Gold Line
• Channel: Futures Trading Journey of Robert Anderson
• Speakers: Robert Anderson (implied by "Bob")
• Duration: 01:15:53

Overview

This video provides a detailed explanation and breakdown of Robert Anderson's "1 Minute Gold Line" trading strategy. It covers the specific rules, conditions, and indicators required to execute this momentum-based trading approach, emphasizing its application in futures markets.

Key takeaways

• The "1 Minute Gold Line" strategy is a momentum-based approach designed to identify high-probability trading opportunities.
• Key rules for the strategy include trading during market movement, aligning trade direction with the 5-minute red line, identifying "re-triggers" and recent 60-minute highs/lows, ensuring smooth pullbacks to the gold line, and avoiding trades where the candle closes on the opposite side of the gold line.
• The strategy utilizes specific indicators: Bar Timer, Current Day OHL, EMA (9 periods), SMA (105 periods), Donchian Channel (60 periods), SWING indicator (5 periods), and PriorDay OHLC, all on a one-minute chart.
• Timing is crucial, with specific windows recommended for different markets (e.g., 9:45 AM to 10:30 AM for equity markets) and awareness of news events is important.
• The video emphasizes the importance of patience, practice, and avoiding trading into static "problem" lines (prior day close, overnight open, etc.) without sufficient space for profit.

Here are the strategy highlights for the "1 Minute Gold Line" trading strategy, formatted as a checklist for entering a trade:

Strategy Checklist: 1 Minute Gold Line

I. Market Conditions:

• Movement: Is the market showing movement (north or south)? Avoid trading in consolidating or stagnant markets.
• Time of Day:
  • Equity Markets (NQ, RTY, Dow, S&P): Generally look for opportunities from 9:45 AM to 10:30 AM EST. Be aware that news events can extend this window.
  • Gold: Opens at 8:20 AM EST. Consider looking for trades after 8:30 AM EST, being mindful of news events.
  • Oil: Opens at 9:00 AM EST. Be aware of its opening volatility.
• News Events: Be cautious of significant news releases, as they can impact market volatility and the reliability of patterns.

II. Directional Confirmation (Rule 2):

• Long Trade: Price must be north of the 5-minute red line.
• Short Trade: Price must be south of the 5-minute red line.

III. "1 Minute Gold Line" Setup Rules:

• Rule 3: Retrigger:

  • Has price previously crossed over the 1-minute gold line?
  • Is the current pullback to the gold line the first instance after this crossover (a "re-trigger" or "reset")? Avoid the third or subsequent touches.

• Rule 4: Recent High/Low:

  • Long Trade: Did price create a new recent 60-minute high before the pullback to the gold line? (Use the Donchian Channel indicator set at 60 periods to help identify this).
  • Short Trade: Did price create a new recent 60-minute low before the pullback to the gold line?

• Rule 5: Smooth Pullback & Pierce:

  • Is the pullback to the gold line relatively "smooth" (i.e., candles are not making new highs/lows that break prior candle structure in the pullback)?
  • Did the pullback pierce the 1-minute gold line?

• Rule 6: Entry Confirmation:

  • Entry Price: Place an order one tick above the last closed candle's high (for longs) or one tick below the last closed candle's low (for shorts).
  • Last Candle Status: The wick and/or body of the last closed candle must still be touching or piercing the gold line.

• Rule 7: Cancellation Condition:

  • Crucial: If the next candle (after the one that touched the gold line) opens and closes completely on the opposite side of the gold line from your intended trade direction, cancel the trade attempt.

IV. Space & Avoidance:

• "Static" Lines: Ensure there is sufficient "space" between your entry point and any prior day OHLC, overnight open, or other "static" support/resistance levels. Avoid entering trades where these lines are directly in your path, as they can impede price movement and cause losses.
• Pre-Trade Analysis: Confirm that the prior candle's high (for longs) or low (for shorts) during the pullback is higher than or equal to the preceding candle's high/low, respectively. A candle breaking significantly beyond the prior candle's range during the pullback invalidates the setup.