Gold Week Monday Morning Opening Downtrend, Conservative Trading Ideas

Monday morning, gold opened lower and moved downward, with a clear market trend. Here is a straightforward summary of the market logic and practical strategies.

The main two reasons for this round of decline: last Friday's strong non-farm payroll data suppressed the market, and the expected pullback adjustment was not completed, accumulating enough correction demand; today, the market is retracing to fill the gap and gradually testing key support levels such as 4680, 4670, and 4660.

Key reminder: Do not blindly chase short positions during the decline. After a continuous rise, support levels have not been fully corrected, and a rapid pullback is likely to trigger a rebound. Chasing short positions risks getting trapped. After the decline, the market is likely to fill the gaps above at 4700 and 4715.

The medium- to long-term fundamentals still favor gold. Geopolitical tensions remain high, and market risks such as inflation and U.S. debt still exist. The safe-haven sentiment supports gold prices, and the overall trend remains bullish. In the short term, it is mainly a range-bound consolidation.

Intraday, the market shows a clear short-term downward trend, but the downside space is limited. The four-hour timeframe is slightly weak, while the daily chart remains firmly in a bullish pattern.

Intraday Trading Strategies
Focus on buying on dips, entering positions gradually based on support levels.
Long entry points: 4680, 4670, 4660, 4640
Rebound targets: first aim for 4700, then look for a push toward 4715
If the rebound reaches the 4715 high and faces resistance, consider short-term counter-trend short positions for a pullback.