FuturesBotLab

Spec sheet № 07 of 13New YorkFailed-breakout fadeBeta

Gold Trap: New York failed-breakout bot for gold

Waits for gold to break its New York opening range and fail, then trades back the other way.

In NinjaTrader as NY MGC ORB Fade

Fig. 07Gold Trap · the rules, drawn outIllustration
Gold Trap rules, drawn as a diagramPrice breaks above the opening range, fails and closes back inside; the bot enters short with a stop beyond the breakout high and a target at 1.5 times the risk. Not a real trade.Opening range · 9:30 – 10:00 AM ETOpening range highOpening range lowStop · beyond the breakout extreme (min 9 pts)Entry · short, back inside the rangeTarget · 1.5 × risk12Outcome not drawn · the bot manages the exit from here9:309:4510:0010:1510:3010:45ILLUSTRATION · DRAWN AS 5-MINUTE BARS · NO PRICES · NOT A REAL TRADE

Illustration of the entry rules, not a real or simulated trade and not a result. Hypothetical or simulated performance results have certain limitations (CFTC Rule 4.41). Read the full notice.

Who it's for

Traders who like fading traps rather than chasing breakouts.

§ 01 How it trades

The rules, in order

  1. Marks the 9:30 – 10:00 AM ET opening range.
  2. Watches for the first 5-minute close outside it.
  3. If price closes back inside the range within 30 minutes, it enters against the breakout. If not, no trade that day.
  4. Stop just beyond the breakout's extreme (at least 9 points), target at 1.5 times the risk. Flat by 3:00 PM ET.

§ 02 Market context

Trading the trap, not the break

Gold Trap marks the 9:30–10:00 AM ET opening range, then watches the first 5-minute close outside it. If price closes back inside within 30 minutes, the breakout has failed, and the bot trades the other way. If that doesn't happen, there is no trade that day.

The stop goes just beyond the extreme of the failed breakout, at least 9 points away, so the trade is wrong if the breakout resumes. The target is 1.5 times that risk.

When this setup struggles

  • A second breakout in the same direction after the re-entry.
  • Days with no clean break-and-fail. Then it sits out.
  • Fast afternoon moves. It is flat by 3:00 PM ET regardless.

§ 03 Risk and settings

Risk rules

  • One trade per day.
  • Daily loss limit, $500 by default, adjustable.
  • Flat by 3:00 PM ET.

Before you turn it on

  • Load it on a 1-minute MGC or GC chart.
  • One trade per day, earliest from 10:05 AM ET.
  • The daily loss limit defaults to $500 and is adjustable.
  • Flat by 3:00 PM ET.

Contract size and the other inputs are adjustable in the bot's settings. The defaults are the settings we tested with.

§ 04 Questions

Gold Trap: common questions

What is a failed breakout?

Price closes outside the opening range and then closes back inside it within 30 minutes. Gold Trap only trades that pattern.

What if the breakout doesn't fail?

No trade that day.

How far is the stop?

Just beyond the breakout's extreme, at least 9 points. The target is 1.5 times the risk.

§ 05 Related

Similar bots in the lineup

London · MGC · GC

Bullion Break

Marks gold's overnight Asia high and low, then trades the first London close outside that range.

See the rules →New York · MGC · GC

Gold Reload

After a strong, high-volume 5-minute push in gold, it waits for a pullback and joins the move.

See the rules →London open · MGC · GC

Dawn Range

Marks gold's first 30 minutes after 2:00 AM ET and trades the first break out of that range.

See the rules →

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