XAU/USD - H1 Time Frame Trade Plan 23-04-2024⚙️ Gold (XAU/USD) – H1 Time Frame Trade Plan
🧭 Current Market Bias (H1)
Check if price is above or below 50 EMA and 200 EMA
Above both = bullish bias
Below both = bearish bias
Between = range / indecision
✅ Bullish Trade Setup (Buy the Dip)
Entry Zone: $2,340 – $2,350 (recent demand zone)
Entry Signal: Bullish engulfing / hammer / RSI bounce from 40
Stop Loss: $2,325 (below recent swing low)
Take Profit 1: $2,370
Take Profit 2: $2,390
Risk:Reward: At least 1:2
❌ Bearish Trade Setup (Sell the Rally)
Entry Zone: $2,390 – $2,400 (strong resistance)
Entry Signal: Bearish engulfing / shooting star / RSI rejection from 70
Stop Loss: $2,415 (above previous swing high)
Take Profit 1: $2,360
Take Profit 2: $2,340
📌 Extra Tips
Use MACD crossovers or RSI divergence for confirmation.
Avoid entering during high-impact news (e.g., FOMC, CPI, NFP).
Consider partial closes and trailing stops if price action moves in your favor.
