Trade Forex Trading

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 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 as a trader can follow form this plan

TIMEFRAMES

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

4H

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

1H

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

4H

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

LONG EXIT

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

RULES

SHORT ENTRY

1H

  1. Both MAs are moving Downward
  2. Both Stochastics are heading Downwards
  3. RSI is 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 is below 50

SHORT EXIT

  1. RSI gives and provides a in the opposite market trend signal
  2. XAUUSD Price action breaks Support Trend Line
  3. Parabolic SAR Indicator 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/hours are between 8:00 GMT & 18:00 GMT when most of the major sessions overlap. Market Hours and Best Hours

gold trading program - best trading hours

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