Afternoon thoughts: Narrow fluctuation between 4780-4800 with slight shocks

In the morning, gold was dragged down by a retreat in crude oil, quickly falling back after failing to reach 4800. The bullish momentum and the logic of holding steady and going long completely invalidated. Now, the price is firmly suppressed at 4800, with support at 4780. The Bollinger Bands are narrowing, indicating a typical phase of sideways consolidation with no clear direction, waiting for a breakout.

Trading suggestions

Short: Light position short at 4798-4800, target 4785-4780, reduce position and exit near 4780

Long: Light position long at 4780-4782, target 4790-4798, reduce position and exit near 4800

For afternoon trading, focus on the 4800 to 4780 range. Within this range, buy low and sell high; only when the price clearly breaks through this range should you follow the trend. Try to avoid chasing orders back and forth at intermediate prices.