Scalping Gold with RSI: My Real Setup and Mistakes

 

Scalping XAUUSD (Gold) is exciting, fast, and — if done wrong — unforgiving.

When I started, I tried everything: MACD, moving averages, trendlines. But eventually, I simplified my system to something I could understand and apply quickly: RSI + Candlestick Patterns + Support/Resistance.

Here’s my real setup, how I use it, and the mistakes I’ve made (and sometimes still make).

🔧 My Basic Scalping Setup

I trade mostly on the M5 and M15 timeframe, using this simple combo:

  • RSI (14): Overbought (above 70), Oversold (below 30)

  • Support/Resistance zones: drawn from H1 or H4

  • Candlestick confirmations: pin bar, engulfing, or strong rejection wicks

  • Optional filter: RSI divergence or trendline break

✅ My Scalping Entry Criteria (Real Example)

Let’s say I’m looking to scalp a buy:

  1. Price hits a strong support zone on H1

  2. On M5, RSI is below 30

  3. A bullish pin bar forms with long wick rejection

  4. I enter Buy with SL just below the wick, and TP based on next resistance or 2:1 risk-reward

I only take the trade if 3 out of 4 confirmations show up. If not, I skip it.

❌ My Common Mistakes (That Cost Me $$)

Despite having a setup, I’ve made these painful mistakes:

1. Entering Too Early (Without Candle Confirmation)

RSI hits oversold — and I jump in. But there’s no rejection or price keeps falling.
Lesson: RSI is just a signal — not a green light.

2. Ignoring Bigger Timeframe Trends

I used to buy at M5 support while H1 was in a strong downtrend. Price kept dropping.
Lesson: Always trade in line with bigger trend or prepare for fast exits.

3. No SL or Too Tight SL

I either had no stop loss, or set it too close and got wicked out.
Lesson: Define clear SL and trust it. Accept small loss > big loss.

4. Overtrading After TP or SL

After a win, I’d chase more. After a loss, I’d try to “get it back.”
Lesson: One or two good trades a day are enough. Walk away.

📌 Tips That Helped Me Improve

  • Journal every trade: even small scalps

  • Use alerts, not emotions

  • Set session goals (ex: 1 TP or 2 setups max per session)

  • Avoid trading news hours unless you’re experienced

Final Thought

Scalping Gold with RSI is not about catching every move. It’s about being precise, patient, and disciplined.
Your setup doesn’t have to be fancy — it just has to be clear, tested, and consistently followed.

I still make mistakes. But now, I learn from them — and blog them here.

If you’re a scalper too, what’s your go-to setup? Let’s learn together.

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