XAUUSDGlobal Rooms
School of Gold

Stage 2: Ounce, read the chart, size the risk

Candlesticks, support and resistance, trend structure, trendlines and chart patterns, then the part that keeps you in the game: position size, stop placement and reward-to-risk.

Stage 2 of 410 steps7 lesson quizzesFree, no sign-up

An ounce is the unit every gold price is quoted in, and this stage is about measuring: where price has reacted, what the trend is, and how many ounces you can afford to hold given where your stop must go. Chart reading without position sizing is the most common way new gold traders lose an account quickly.

By the end of this stage: You can mark support and resistance zones and trend structure on a gold chart, pick a stop from the chart and size the position so a full loss costs the amount you planned.

Education, not signals. Nothing here tells you what to trade. Leveraged gold trading carries a high risk of loss: practise on a demo first.

Your progress in this stage

Work down the list in order. Tick a step when you have read it or used the tool. Lessons marked “Lesson + quiz” end with a five-question quiz; pass it (4 of 5) and the step ticks itself. When every step is ticked and you have passed the stage quiz at the bottom, you earn the Ounce badge.

Your progress

0 of 11 steps done (lessons + stage quiz)

Ounce badgeNot earned yet

Ticks are saved in this browser only (nothing is sent to us). Passing a lesson quiz ticks that lesson by itself. Moving to another device? Use the progress code.

The Ounce stage, step by step

  1. Lesson + quiz · Beginner · 17 min readCandlestick Patterns on Gold (XAUUSD): Anatomy, Key Patterns, Context and Setups
  2. Lesson + quiz · Beginner · 15 min readGold Support and Resistance Strategy: Trading XAUUSD Levels
  3. Lesson + quiz · Beginner · 13 min readXAUUSD Market Structure: Trends, BOS and CHoCH Explained
  4. Lesson + quiz · Beginner · 11 min readTrendlines and Channels on Gold (XAUUSD): How to Draw Them, Trade Them and Spot Fakeouts
  5. Lesson + quiz · Beginner · 14 min readChart Patterns on XAUUSD: Head and Shoulders, Double Tops, Triangles, Flags and Measured Moves
  6. Lesson + quiz · Intermediate · 12 min readMulti-Timeframe Analysis for XAUUSD: Top-Down Bias, Setup and Entry Frameworks
  7. Lesson + quiz · Beginner · 13 min readXAUUSD Risk Management and Position Sizing
  8. Free toolPosition size calculator
  9. Guide · 5 min readHow to Set Stop-Loss and Take-Profit on Gold in MT5 (Mobile and Desktop)
  10. Free toolRisk reward calculator

Printable study notes for this stage

One-page notes in a hand-drawn notebook style, with a sketch diagram and the key lines highlighted. Print them or save them as PDF and keep them beside your screen.

Stage 2 quiz

The Ounce stage quiz

Ten questions drawn from the lessons in this stage. Where a question says “the lesson”, it means the stage lesson it comes from. Score 8 of 10 or better to pass the stage quiz.

1Which single candle reading does the lesson call the most useful?
2How should you judge whether a gold candle's body or wick is 'large'?
3Why does the lesson say support and resistance on gold should be drawn as zones rather than single lines?
4What is a role reversal (flip) in the lesson's terms?
5What is the difference between a Break of Structure (BOS) and a Change of Character (CHoCH)?
6How many touches does the lesson say you need to draw a trendline, and which touch is the first true test?
7When does the lesson say a chart pattern is complete?
8What is the key principle of position sizing in the lesson?
9With $100 risk and a $20 stop (1 lot = 100 oz), what is the position size?
10In the three-tier framework, what job does the bias timeframe have?

Answers and progress stay in this browser only (nothing is sent to us).

Where next

← Stage 1: SpotNext: Stage 3: Bar

All four stages and your badges are on the School of Gold page. Prefer goal-based paths with practice tasks? See the free gold trading courses; every lesson quiz you pass counts in both.

Frequently asked questions

Why is risk management in the chart stage?

Because the chart decides where the stop goes, and the stop decides the position size. Learning them together stops the habit of picking a lot size first and squeezing the stop to fit.

Do I need indicators for stage 2?

No. Stage 2 uses price only: candles, levels, swings and patterns. Indicators come in stage 3, once you can read the chart without them.

Educational content only, not financial advice. Trading gold with leverage carries a high risk of loss.