๐ฉ TRADE RECAP: GOLD (XAUUSD) โ ELFIEDT RSI + REVERSION
Timeframe: 15-minute
Indicator Used: ELFIEDT RSI + Reversion
Date: July 15โ16
Market: Gold (XAUUSD)
โธป
๐ข TRADE 1 โ LONG SETUP (โUPโ Signal)
๐ Location: Left side of chart (July 15, ~18:00)
๐ข Label: โUPโ
๐ฆ Blue Entry Box: Bullish Reversion Zone
๐ฅ Red SL Box: Risk-defined stop zone below the signal bar
โ Why This Trade Was Taken:
โข ๐ Price sharply sold off into extreme oversold conditions.
โข ๐ RSI with Standard Deviation Reversion: The RSI value pierced below the 3-standard-deviation envelope, triggering a BUY signal.
โข ๐ข โUPโ label was automatically printed by the ELFIEDT indicator.
โข ๐ง System confirms that price is statistically stretched below mean, ideal for mean-reversion trades.
โข ๐ Entry was executed immediately at the close of the signal bar.
โข ๐ก๏ธ Stop loss was placed below the signal barโs low, as per system rules.
๐ฏ Outcome:
โข Price reversed strongly back toward the mean.
โข Trade moved cleanly in favor, validating the signal and model.
โธป
๐ด TRADE 2 โ SHORT SETUP (โDOWNโ Signal)
๐ Location: Right side of chart (July 16, ~18:00)
๐ด Label: โDOWNโ
๐ฆ Blue Entry Box: Bearish Reversion Zone
๐ฅ Red SL Box: Risk-defined stop zone above signal bar
โ Why This Trade Was Taken:
โข ๐ Sharp bullish spike pushed price far above equilibrium.
โข ๐ RSI exceeded the upper 3-standard-deviation threshold, triggering a SELL signal.
โข ๐ด โDOWNโ label appeared based on confluence of overbought + RSI reversal structure.
โข ๐ The bearish candle close confirmed exhaustion at the top.
โข ๐ Entry was taken at the close of the โDOWNโ signal bar.
โข ๐ก๏ธ Stop was placed above the high of the trigger bar, per indicator rules.
๐ฏ Outcome:
โข Price quickly rejected the highs and dropped into profit territory.
โข Tight structure with clean entry allowed favorable risk:reward.
โธป
๐ About the Indicator: ELFIEDT RSI + Reversion
This system is built on the principle that price tends to revert to its mean when it becomes statistically stretched โ confirmed by:
โข โ RSI divergence
โข โ Break of trendlines
โข โ Reversion from extreme zones using a 3 SD envelope
โข โ Directional confirmations from candle structure and session timing
๐ Signals include:
โข ๐ โUPโ and โDOWNโ trade labels
โข ๐ฆ Entry and SL box overlays
โข ๐จ Candle color overlays based on 50MA and RSI alignment
โข ๐ Alerts at signal bar close (non-repainting
๐ธ Visual Recap:
๐น The chart shows:
โข โ Clear visual entries with SL and TP zones
โข โ โUPโ and โDOWNโ labels for intuitive guidance
โข โ No repainting โ signals locked at close
Timeframe: 15-minute
Indicator Used: ELFIEDT RSI + Reversion
Date: July 15โ16
Market: Gold (XAUUSD)
โธป
๐ข TRADE 1 โ LONG SETUP (โUPโ Signal)
๐ Location: Left side of chart (July 15, ~18:00)
๐ข Label: โUPโ
๐ฆ Blue Entry Box: Bullish Reversion Zone
๐ฅ Red SL Box: Risk-defined stop zone below the signal bar
โ Why This Trade Was Taken:
โข ๐ Price sharply sold off into extreme oversold conditions.
โข ๐ RSI with Standard Deviation Reversion: The RSI value pierced below the 3-standard-deviation envelope, triggering a BUY signal.
โข ๐ข โUPโ label was automatically printed by the ELFIEDT indicator.
โข ๐ง System confirms that price is statistically stretched below mean, ideal for mean-reversion trades.
โข ๐ Entry was executed immediately at the close of the signal bar.
โข ๐ก๏ธ Stop loss was placed below the signal barโs low, as per system rules.
๐ฏ Outcome:
โข Price reversed strongly back toward the mean.
โข Trade moved cleanly in favor, validating the signal and model.
โธป
๐ด TRADE 2 โ SHORT SETUP (โDOWNโ Signal)
๐ Location: Right side of chart (July 16, ~18:00)
๐ด Label: โDOWNโ
๐ฆ Blue Entry Box: Bearish Reversion Zone
๐ฅ Red SL Box: Risk-defined stop zone above signal bar
โ Why This Trade Was Taken:
โข ๐ Sharp bullish spike pushed price far above equilibrium.
โข ๐ RSI exceeded the upper 3-standard-deviation threshold, triggering a SELL signal.
โข ๐ด โDOWNโ label appeared based on confluence of overbought + RSI reversal structure.
โข ๐ The bearish candle close confirmed exhaustion at the top.
โข ๐ Entry was taken at the close of the โDOWNโ signal bar.
โข ๐ก๏ธ Stop was placed above the high of the trigger bar, per indicator rules.
๐ฏ Outcome:
โข Price quickly rejected the highs and dropped into profit territory.
โข Tight structure with clean entry allowed favorable risk:reward.
โธป
๐ About the Indicator: ELFIEDT RSI + Reversion
This system is built on the principle that price tends to revert to its mean when it becomes statistically stretched โ confirmed by:
โข โ RSI divergence
โข โ Break of trendlines
โข โ Reversion from extreme zones using a 3 SD envelope
โข โ Directional confirmations from candle structure and session timing
๐ Signals include:
โข ๐ โUPโ and โDOWNโ trade labels
โข ๐ฆ Entry and SL box overlays
โข ๐จ Candle color overlays based on 50MA and RSI alignment
โข ๐ Alerts at signal bar close (non-repainting
๐ธ Visual Recap:
๐น The chart shows:
โข โ Clear visual entries with SL and TP zones
โข โ โUPโ and โDOWNโ labels for intuitive guidance
โข โ No repainting โ signals locked at close
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join us to get free access to all indicators we created!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.