Gold to Buy from These Key Levels

6 сент.

Back to gold again.. As expected, the previous scenario was to rise, but it failed to close above 2527, and of course the expected decline scenario began for this week..
Gold is expected to reach its lowest level at 2483-2488 and then rise to historical peaks 2560-2610..
We are now correcting up to 79% Fibonacci for the wave that rose from 2470 to 2529 this afternoon.
Let's not forget that the news was in favor of gold rising because it helps to deduct interest, but the price was high for purchase.. Therefore, the market leaders decided to clean the peaks and take the previous weekly peak and head towards cheap areas to buy from.
As for long positions for purchase, the best areas for purchase are, respectively:
2493 - 2488 - 2483 - 2474 - 2464 - 2458
For example, you usually buy 5 ounces of gold.
You can place your purchases at these key levels and place Stop below the bottom which is below 2450 and it is a protected liquidity bottom

If your account is small, try to be aware of the risks because the movement of gold is violent and contains high liquidity. You must also adhere to risk management and not risk more than 2 to 5% of your account considering that you are buying a swing

And you can shorten some keys if you cannot divide your operations into 5

This is my vision of the buying levels for gold with the approach of the interest deduction

Of course, these are not recommendations.. Just an analysis and a vision that may be right or wrong..