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Song Xiqing: Nonfarm countdown! Gold is in low volatility—waiting for the breakout. I’ve already chosen my range-trading zone.
Right now, gold’s volatility is relatively low, and both bulls and bears are waiting for tonight’s Nonfarm data to point the direction.
There are still short-term opportunities in the European session, but make sure to strictly carry your stop-loss.
Before the data is released, I’ll focus on range-trading opportunities in the 4075-4085 resistance zone. Judging from the price action over the past few days, selling pressure is still there, and the downward trend hasn’t fully played out yet.
After the data comes out, I’ll follow through by taking cues from the actual direction of the Nonfarm.
Tonight’s market will definitely see a big move—it's both a risk and an opportunity for us.
Hold it well— the bigger the waves, the more valuable the fish!
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