Trade Gold Trading

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

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

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

Here is the program that you can follow form this plan

TIMEFRAMES

  • Main timeframe for trading is the 1 Hour.
  • Signals are generated on 1 Hour time frame.
  • Trade Signals generated should be supported by H4 time frame.

4H

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

1H

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

RULES

LONG ENTRY

1H

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

4H

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

LONG EXIT

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

RULES

SHORT ENTRY

1H

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

4H

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

SHORT EXIT

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

TRADE ROUTINE

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

TIME OF DAY TO WATCH MARKET - Gold TRADING HOURS

Watch market during daytime when most brokers & online brokers are open for trades. Use this to develop a good Gold Trading program.

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

gold program - best hours

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