The concept is interesting, but I see some concerns with your strategy.
You said to place the trade at 1350 and close at 1340. I'm assuming the lot size for this first trade is also 0.01, right? This may or may not be $10 worth of money depending on someone's type of account and account denominated currency.
It seems like this strategy would work unless the market kept going up without ever retracing down to close the $10. Scalping a small $10 out of Gold is no problem, but if Gold would take off and not come back down, what would happen is the last trade would remain open and eventually you would run out of money. You didn't explain what should happen in such a scenario.
Does the same strategy work for buying too? Let's say there are 3 bearish candles in a row on the Daily chart.