Learn a new revamp trading strategy for gold using the Vivap indicator on 15-minute charts for breakouts and pullbacks. Exit trades at resistance or support using Fibonacci.

Revamp Trading Strategy for Gold: Using Vwap Indicator for Daily Profits

Introduction:

In this video, we will learn a completely new revamp trading strategy for gold. Andrew will explain how he uses the volume weighted average price indicator (VWAP) to create profitable trades in the gold market.

What is the VWAP indicator?

The VWAP indicator is a volume-based indicator used for breakouts and pullbacks. This indicator is a useful tool to determine if the security price is cheap or expensive.

Using the Revamp Trading Strategy for Gold:

The Revamp trading strategy uses the VWAP indicator and the 200 DMA. This strategy is best used on a 15-minute chart.

Step 1: Add the VWAP and 200 DMA to the charts.

Step 2: Identify a breakout of the VWAP line.

Step 3: Place a buy trade on the breakout of the VWAP line.

Step 4: Use Fibonacci to identify the next resistance level. Exit the buy trade at the next resistance level.

Step 5: If the price breaks below the VWAP line, place a sell trade. Exit the sell trade at the next support level.

Conclusion:

The Revamp trading strategy is an easy-to-use method for trading gold using the VWAP indicator. When used correctly, this strategy can generate daily profits. Remember to always use proper risk management when implementing any trading strategy.