This is my trading plan for gold (XAUUSD)

Written by Raul Lopez on . Posted in Trades & Analysis

Having a trading plan enforces us to be disciplined.

That is the reason I always try to have a trading plan for each of the instruments and currency pairs I’m trading.

It doesn’t have to be complicated, rather something simple, and easy to follow.

For instance, we all know gold tends to go up when there is economic uncertainty in the world. But it’s not like I’m going long right now, I need to find the right level and time to go long (with technical analysis).

So here is the short term chart:

So right now I’m waiting for the market to break the upper short term resistance level, because I know that once it happens, it is likely to continue its way up.

What do you think? Do you trade gold?

Cheers,
Raul

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.
StraightForex
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828

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