The Main Part of a Plan is Your Program

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

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

Here is the xauusd program that you can follow form this plan

TIMEFRAMES

• Main time frame for trading is the 1 Hour.
• XAUUSD Signals are generated on the 1Hour timeframe.
• XAUUSD 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 and Resistance
• Parabolic SAR

1H

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

RULES

LONG ENTRY

1H

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

4H

1. Both Moving Averages are moving Upwards
2. Both Stochastics are heading Upwards
3. RSI >->50

LONG EXIT

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

RULES

SHORT ENTRY

1H

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

4H

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

SHORT EXIT

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

TRADE ROUTINE

1. XAUUSD Signals are generated using 1H timeframe.
2. XAUUSD Signal to be executed immediately rules are met.
3. Entry xauusd alert signals should be executed during daytime.

TIME OF DAY TO WATCH MARKET - XAUUSD TRADING HOURS

Watch market during daytime when most xauusd companies and online trading brokers are open for trades. Use this to come up with a good-enough XAUUSD 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

xauusd trading program - best trading hours