Trade Gold Trading

The Main Gold Trading Part of a Gold Trading Plan is Your Gold Trading Program

One of the main gold trading part of a gold trading plan is your gold trading program. A gold trading plan is the gold trading tool which a trader will use to ascertain & plan all aspects of their trading. A gold trading plan will have a written gold trading system that a trader follows and the gold trading journal rules trading rules among others.

Within this gold trading plan a gold trading plan will also write down the gold trading program that a trader will follow while trading the xauusd markets.

Here is the gold trading program that you can follow form this gold trading plan

TIMEFRAMES

  • Main timeframe for trading is the 1Hour.
  • Gold Trading Signals are generated on 1Hour time-frame.
  • Gold Trade Signals generated should be supported by 4Hour time frame.

4H

  • Gold Trend-Lines (Support & Resistance)
  • 5 & 7 Simple Moving Averages
  • MACD (12, 26, 9)
  • RSI (14) +Support & Resistance
  • Parabolic SAR

1H

  • Gold Trend-Lines (Support & Resistance)
  • 5 & 7 Simple Moving Averages
  • Stochastic Oscillator (14, 4, 7)
  • RSI (14) +Support & Resistance
  • Bollinger Bands (20, 2)
  • Parabolic SAR

RULES

LONG ENTRY

1H

  1. Both MAs are heading Upward
  2. Both Stochastics are heading Upward
  3. RSI above 50
  4. Parabolic SAR is below the xauusd price (Support)

4H

  1. Both MAs are heading Upward
  2. Both Stochastics are heading Upward
  3. RSI >->50

LONG EXIT

  1. RSI gives opposite signal
  2. Gold Price breaks Support Gold Trend Line
  3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

1H

  1. Both MAs are heading Downward
  2. Both Stochastics are moving Downwards
  3. RSI below 50
  4. Parabolic SAR is above the xauusd price (Support)

4H

  1. Both MAs are moving DOWN
  2. Both Stochastics are moving DOWN
  3. RSI below 50

SHORT EXIT

  1. RSI gives opposite signal
  2. Gold Price action breaks Support Gold Trend Line
  3. Parabolic SAR is hit (Trailing Stop)

TRADE ROUTINE

  1. Gold Trading Signals are generated using 1 Hour time-frame.
  2. Gold Trading Signal to be executed immediately rules are met.
  3. Entry gold trading alert trading signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET - Gold TRADING HOURS

Watch market during daytime when most gold brokers and online gold brokers are open for trades. Use this to come up with a suitable Gold Trading program.

The best gold trading hours when markets overlap that will form the best gold trading times are between 8:00 GMT and 18:00 GMT when most of the major gold trading sessions overlap. Gold Market Trading Hours and Best Gold Hours

gold trading program - best gold hours

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