📊 Gold (XAU/USD) Trading Plan – 1-Hour Timeframe
Instrument: Spot Gold (XAU/USD)
Analysis Basis: 1-hour candlestick chart
Method: Breakout trading strategy based on candle close above/below key levels
🟢 Buy Setup – Bullish Breakout Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close above $3,410.
The candle body should be clearly above the level (not just a wick), confirming strong buying pressure.
Entry should be placed above the high of that breakout candle to avoid false signals.
Entry Price: Above breakout candle high if it closes above $3,410
Profit Targets:
Target 1: $3,419 (Initial resistance level, short-term scalp target)
Target 2: $3,429 (Intermediate resistance zone)
Target 3: $3,439 (Major resistance level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just below $3,410 breakout level.
Aggressive traders: Place stop loss below the breakout candle’s low.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions at each target to lock in profits.
🔴 Sell Setup – Bearish Breakdown Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close below $3,365.
Ensure the candle body is clearly under the level, indicating strong selling momentum.
Entry should be placed below the low of that breakdown candle to confirm continuation.
Entry Price: Below breakdown candle low if it closes below $3,365
Profit Targets:
Target 1: $3,352 (First support level)
Target 2: $3,341 (Intermediate support zone)
Target 3: $3,329 (Major support level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just above $3,365 breakdown level.
Aggressive traders: Place stop loss above the breakdown candle’s high.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions as targets are achieved to protect gains.
⚠️ Risk Management Notes
Never risk more than 1–2% of your total capital on a single trade.
Avoid trading during major economic news events unless you are specifically trading the news.
Monitor spreads, as gold spreads can widen significantly during volatility.
Use trailing stops if price moves strongly in your favor to maximize profits.
📌 Example Trade Scenarios
Bullish Scenario:
1-hour candle closes at $3,412 with a high of $3,414 and a low of $3,407.
Place buy stop at $3,415, stop loss at $3,406, first target $3,419.
Bearish Scenario:
1-hour candle closes at $3,363 with a high of $3,368 and a low of $3,360.
Place sell stop at $3,359, stop loss at $3,369, first target $3,352.
⚠️ Disclaimer
This trading plan is for educational purposes only. It is not financial advice or a recommendation to buy or sell any asset. Trading gold (XAU/USD) or any leveraged financial instrument carries a high level of risk and may not be suitable for all investors.
Prices can be volatile, and past performance does not guarantee future results. Always conduct your own analysis, and if necessary, seek advice from a licensed financial professional. Only trade with funds you can afford to lose.
Instrument: Spot Gold (XAU/USD)
Analysis Basis: 1-hour candlestick chart
Method: Breakout trading strategy based on candle close above/below key levels
🟢 Buy Setup – Bullish Breakout Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close above $3,410.
The candle body should be clearly above the level (not just a wick), confirming strong buying pressure.
Entry should be placed above the high of that breakout candle to avoid false signals.
Entry Price: Above breakout candle high if it closes above $3,410
Profit Targets:
Target 1: $3,419 (Initial resistance level, short-term scalp target)
Target 2: $3,429 (Intermediate resistance zone)
Target 3: $3,439 (Major resistance level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just below $3,410 breakout level.
Aggressive traders: Place stop loss below the breakout candle’s low.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions at each target to lock in profits.
🔴 Sell Setup – Bearish Breakdown Strategy
Conditions to Enter:
Wait for a full 1-hour candle to close below $3,365.
Ensure the candle body is clearly under the level, indicating strong selling momentum.
Entry should be placed below the low of that breakdown candle to confirm continuation.
Entry Price: Below breakdown candle low if it closes below $3,365
Profit Targets:
Target 1: $3,352 (First support level)
Target 2: $3,341 (Intermediate support zone)
Target 3: $3,329 (Major support level for the session)
Stop Loss Placement:
Conservative traders: Place stop loss just above $3,365 breakdown level.
Aggressive traders: Place stop loss above the breakdown candle’s high.
Trade Management Tips:
Move stop loss to breakeven once Target 1 is hit.
Scale out partial positions as targets are achieved to protect gains.
⚠️ Risk Management Notes
Never risk more than 1–2% of your total capital on a single trade.
Avoid trading during major economic news events unless you are specifically trading the news.
Monitor spreads, as gold spreads can widen significantly during volatility.
Use trailing stops if price moves strongly in your favor to maximize profits.
📌 Example Trade Scenarios
Bullish Scenario:
1-hour candle closes at $3,412 with a high of $3,414 and a low of $3,407.
Place buy stop at $3,415, stop loss at $3,406, first target $3,419.
Bearish Scenario:
1-hour candle closes at $3,363 with a high of $3,368 and a low of $3,360.
Place sell stop at $3,359, stop loss at $3,369, first target $3,352.
⚠️ Disclaimer
This trading plan is for educational purposes only. It is not financial advice or a recommendation to buy or sell any asset. Trading gold (XAU/USD) or any leveraged financial instrument carries a high level of risk and may not be suitable for all investors.
Prices can be volatile, and past performance does not guarantee future results. Always conduct your own analysis, and if necessary, seek advice from a licensed financial professional. Only trade with funds you can afford to lose.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.