Cut positions! Cut positions! During Labor Day, the 4550 spot price—reduce most positions at 4720. Gold last Friday’s non-farm payroll came out bearish, but the impact is limited. As long as it doesn’t break below 4650, every pullback can be used to go long. The target is to see above 4800. Heyue can go long with a light position around the 4680 pullback, and set a moving take-profit near 4720 so profits can run. If it breaks below 4650 and cannot be recovered on the 4-hour daily chart, then stop the loss immediately. What needs special attention here is that only if it breaks above 4760 and holds steady can there be a chance to see 4850~4880!

If 4650 is broken, then a good opportunity for paper gold trading comes: enter half a position at 4580, and then directly go all-in near 4400 to aim for above 4800. You must learn to strictly cut losses and set a moving take-profit to lock in profits.