We can buy gold in this manner. It's better to buy on down days, ideally between 1210 and 1202, but it will be harder to go that low. Buying under 1222 is ok overall, but better to only buy on each day when the market is down enough and hits support.
Buy for 2 weeks at least, or maybe until April 21st. After this date, the market can break the top and go way higher. I don't think it can break out before April 3rd, at the very least, simply not likely. Takes time to absorb the selling to break the resistance from old resistance levels. This is a good asset to own in your portfolio, together with silver and a few currencies, as part of a diversified long term investment plan. A 10-30% position is optimal here. You'd start buying 2.27oz per day, for 11 days, but you could buy more if you can buy at lower levels, just aim to risk 0.25-0.5-1% if stopped out after you buy the whole position. You might end up holding a much larger position if adding more buys at lower prices.
Good luck,
Ivan Labrie.
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We jumped too fast into monthly resistance, good zone to unload a few longs and reload on dips. Last: 1245.78
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If you're adept at range trading in a sideways/choppy market, then trade XAUUSD. Personally, I'm a trend trader, and this market presents a challenge I'm not willing to tackle. There is a chance of seeing the market remain range bound for an extended period of time. I won't trade XAUUSD until a very evident trend starts. No rush here...
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April 4th started, and we are already above the monthly resistance. I don't know what are the odds of a breakout now, but I would try going long more on dips after today's close. If not in, get long now, stop under today's low if aggressive. Conservative stops should go 1200.
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This was pretty accurate, gold even came back to my long term buy zone, I bought a 20% account position in physical gold 3 days ago.