Gold Trading Strategy: Awaiting Non-Farm Payrolls, Key Levels Determine Direction

Yesterday, gold fluctuated and closed with a bearish doji. The ETF reduced holdings by 1.72 tons, confirming cautious short-term capital, and the pattern of liquidation remains unchanged. Before the release of tomorrow's significant non-farm payroll data, the market is likely to continue fluctuating, and the direction may be postponed until after the data is released.

The 4-hour chart shows a high followed by a pullback, leaving a long upper shadow. The line at 4194 has stabilized twice, forming a double bottom structure, which is an ideal buying point for bulls to rely on for defense. However, after a quick rise to 4217 in the morning, there was a rapid pullback. The 30-minute MACD death cross has appeared, and the short-term downward pressure is intensifying. Those who have not entered the market are advised to wait and avoid risks.

Simplified trading ideas:

- If the support at 4194 is broken: Short on a rebound back to 4217, targeting the support zone of 4180-90;

- If the support at 4194 holds: Short in the area of 4240-50, betting on the pressure at the top of the fluctuation;

- If there is a deep pullback to the extreme area of 4120-30: Act decisively to buy low, betting on an oversold rebound.

Note: If the support at 4180-90 fails, it will open up further downside space, and caution is needed for the risk of trend weakening; volatility may intensify before the non-farm payroll data, and strict position control with stop-loss is necessary.

Special Statement: The above content only represents the author's personal views or positions $BTC #加密市场观察