It closed around the 3977 level on Thursday, with the lowest touching around 3964.4 before finishing in a range-bound move, which also hit the 3960-3970 zone I indicated yesterday. I also kept emphasizing yesterday not to chase long positions at high levels.
Gold faces heavy resistance above. The bulls can only break through if driven by significant bullish news; otherwise, we will continue to stick to shorting on rebounds. With the Non-Farm Payrolls report due this Friday, we will maintain the approach of shorting on rebounds during the morning.
Looking at the 4-hour chart, the immediate resistance above is focused on the 4020-4025 zone, with the key bull-bear watershed at 4047-4055. For short-term support, watch the 3960-3970 area, while the key support lies at the previous low around 3888-3890.
In terms of operation, I still recommend prioritizing shorting on rebounds. For mid-range levels, we should always adhere to observing more and acting less, be cautious about chasing orders, and patiently wait for entry at key levels.
Trading Strategy:
Sell 4010 - 4020
SL 4030
TP 3980 - 3970 - 3960
Buy 3920 - 3930
SL 3910
TP 3950 - 3960 - 3970
Gold faces heavy resistance above. The bulls can only break through if driven by significant bullish news; otherwise, we will continue to stick to shorting on rebounds. With the Non-Farm Payrolls report due this Friday, we will maintain the approach of shorting on rebounds during the morning.
Looking at the 4-hour chart, the immediate resistance above is focused on the 4020-4025 zone, with the key bull-bear watershed at 4047-4055. For short-term support, watch the 3960-3970 area, while the key support lies at the previous low around 3888-3890.
In terms of operation, I still recommend prioritizing shorting on rebounds. For mid-range levels, we should always adhere to observing more and acting less, be cautious about chasing orders, and patiently wait for entry at key levels.
Trading Strategy:
Sell 4010 - 4020
SL 4030
TP 3980 - 3970 - 3960
Buy 3920 - 3930
SL 3910
TP 3950 - 3960 - 3970
交易進行
Today is Friday, and the NFP report is due. We will treat the market as a range-bound trend before the U.S. session. If the NFP employment data is released as scheduled, it is expected to push gold out of the consolidation range.交易結束：目標達成
Now that the nonfarm payrolls report hasn't been released as scheduled, I anticipate that the market will remain in a volatile state
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