Gold hits a new high again. The only thing in front of us now is trading around the resistance level of 4630 and the support at 4550. Simply put, go short at highs, look for opportunities when it retraces to support, and short the pullback in the short term. The overall trend remains bullish, so don't chase the highs.

After breaking through 4600, 4630 immediately became a "roadblock." Many bulls can't hold this position, and a lot of traders are waiting to sell here and lock in profits. So don't follow the trend blindly; wait until it rebounds to the 4615-4630 range before making a decision. Once it shows signs of stalling—such as long upper shadows on the candlesticks or shrinking volume—you can consider shorting lightly. Be disciplined here, keep your position below 30%, as the market is volatile after reaching new highs, and a wrong judgment with heavy positions can easily lead to a reversal and being caught.

Place your stop-loss above 4645; even if there's a false breakout and it drops below, losses are limited. After entering a short position, first watch the 4580-4590 range, and if it reaches there, you can close part of your position to lock in profits. If it continues downward to 4550-4560, it's generally time to close the position—don't expect to capture the entire move in one go.

Why is 4550 a strong support? Because it was a previous high, now it acts as a "safety cushion." When the price drops to this level, a rebound usually occurs. Conversely, if the price doesn't break below 4550, or if it does but quickly pulls back without the dollar strengthening significantly, you can consider a small long position with a stop-loss below 4535. Target 4590 first, then see if it can push back to 4615-4630.

But remember a strict rule: if 4630 is effectively broken and holds above, or if 4550 is broken and doesn't rebound in time, then the above strategy must be immediately abandoned, and you should quickly adjust your mindset. During trading, pay close attention to real-time transaction data. Don't be rigid about fixed price levels; stay flexible. Take profits when the opportunity arises, and don't hesitate to cut losses. Risk management is always the top priority.