Trade Gold Trading

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

One of the main 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 one will follow while trading the markets.

Here is the program that you as a trader can follow form this plan

TIMEFRAMES

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

4H

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

1H

  • TrendLines (Support & Resistance)
  • 5 and 7 Simple MAs
  • Stochastic (14, 4, 7)
  • RSI (14) +Support and Resistance
  • Bollinger Bands (20, 2)
  • Parabolic SAR

RULES

LONG ENTRY

1H

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

4H

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

LONG EXIT

  1. RSI gives and provides a in the opposite trend signal
  2. Price breaks Support TrendLine
  3. Parabolic SAR is hit (Trailing Stop)

RULES

SHORT ENTRY

1H

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

4H

  1. Both Moving Averages are moving DOWN
  2. Both Stochastics are moving DOWN
  3. RSI value below 50

SHORT EXIT

  1. RSI gives and provides a in the opposite market trend signal
  2. Price action breaks Support TrendLine
  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 the day-time.

TIME OF DAY TO WATCH MARKET - Gold TRADING HOURS

Watch market during the day-time 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/hours are between 8:00 GMT and 18:00 GMT when most of the major market sessions overlap. Market Hours & Best Hours

gold program - best hours

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