The PriceBob Strategy

Day #20:

Gold long: 7.30 - 8.00 AM fixed bar (TP hit)

So I believe I've completed the 20 days challenge.
1. One trade a day
2. One symbol: XAUUSD
3. One fixed bar: 7.30 AM to 8.00 AM EST
4. Fixed Sl and TP: 0.618R
5. No more thinking!

My analysis:
Wins: 11
Losses: 9

One main thing I've observed is that reversals are happening on gold during this time. If the reversal is happened already the price continues, if not we need to wait for reversal entry. Most reversals happen exactly after the fixed bar.

This is my understanding and please let me know the next steps and if I'm missing anything. I know Vidvad may not respond, just posting it for the community.

Thank you

Hey giga, the 7.30 AM fixed bar and 0.618 was considered in my rules because it was mentioned in one of Vidvad's videos. I enter after the fixed bar closes i.e., after 8.00 AM. So you are saying to consider 8.00 AM to 8.30 AM fixed bar instead? If not Gold, on what instrument you are reffering to.

Everything is correct, only the other way around:
Wins: 9
Losses: 11.

Interesting, are these stats for gold? If so I got 11 wins and 9 losses for the past 20 trading days. Btw do you use the same fixed bar all the time or change according to the market conditions? How do you chose the fixed bar?

My bad, it's 9 wins and 11 losses.

These are excellent observations and such observations are to be expected from going through this exercise.

So the next step is for you to consider how can you translate these observations into concrete trading rules that you can incorporate into you next trading plan.

I would disregard the comments made by giga. I'd like to think giga meant well, though the tone and choice of some of his words disappoint me. And to tell someone they've selected the wrong bar is just wrong to say. It is very much typical FF behavior and we here in this thread are anything but typical FF members. As the late, great Freddie Mercury would say, "those are the losers ... we are the champions!"

Each of us start from where we choose to start. Once started, the conclusions we make must come from our experience of the journey. Look at belgrath: I don't know what instrument he is trading or what bar interval or his reward to risk management or any of it other than he started where you started and he found his way through the process to develop a consistently profitable trading plan that is his own.

There is no "right or wrong" fixed bar. Any bar at or near a major market center open can be developed into a reference bar around which to build a consistently profitable trading plan.

You can choose a different reference bar for your next 20 trades, but then the observations you have made must be set aside, and you should trade your new reference bar just as you traded the previous reference bar.

I posted a chart not long ago showing exactly what you observed.

I've amended my plan over several trials to take these reversals into account and to both cut losses short as well as participate profitably in the reversals.

This is a process. But if you are to make it work, you must follow the process yourself and make it your own. Not giga's, not vidvad's, not turnip's, not bluesteele's, not begrath's ... you must make it your own, rorex.



I trade the 7:30 AM to 8:00 AM GC M30 fixed bar.

Again, you have made excellent observations and again such observations are to be expected from going through this exercise.
The next step is for you to review, measure, and recut the cloth. You don't have to start trading again today or even tomorrow. Take some time to consider what you can learn from your observations and how can you translate these observations into concrete trading rules that you can incorporate into you next trading plan.

You are on the right path. The path is one of process.

I'm logging out now and won't be back for a while. I felt that it would be unfair not to step in here and redirect you back to the path and away from the rabbit hole giga was about to send you on.

You've now been warned. Be careful from whom you take advice. At this point your best counsel will be your own so long as it comes from the perspective of the process you are following.

Hey Vidvad, glad to see you again. Hope everything is well on your side.

I will look into my journal and analyse even more as you've said. I truly appreciate your concern.

Thank you!

- Rorex

What Vidvad said is 100% correct. I started out like you Rorex and went through many trials. I finally landed on the 5 minute bar that ends at 9:35 EST on NAS. How I used it is not important. It works for me and that is one of the most important things. I have gained a lot of confidence through the whole process and had many doubts along the way. But I pushed on and hit on a strategy that finally worked. I am proud to say I am 2/3 of the way to my profit target now, so the process does work! Even so, I still document all my trades and watch price action and take notes in case I need to still tweak it a bit. It has only been three weeks, so you never know. But I am very excited to finally break through in 2026! As always thanks from one great thread Vidvad

Am I missing something?

Hi Batavia, the marked rectangles are from the beginning of the London session?

Hi csierravh, sorry, yes, correct, 07.30-8.00 am London opening. Those candles seems to be opposite. Ive never seen this difference before between cTrader en TV.

BT

I checked both and I see the same as you on Ctrader, difference is with TV, from my side i see the same as Ctrader as well

Found it. Apparently on TV price can be shown inverted. No idea why one would do that but anyway I probably switched that on without knowing it lol. Thanks csierravh.

Enjoy!

Good start with 5 minute ORB on SP500...also shown Mebob box. Target achieved

Same again with sp500 ORB and mebob
Do your own 5 minute and one minute charts