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I. First, let’s see what happened this week: one nonfarm payrolls report, battered from both sides
In one sentence that even a market auntie could understand, this week’s market action (August 31–September 5) was:
Fireworks on Wednesday, a plunge on Friday.
On September 3, Fed Governor Waller casually said, “If inflation continues to cool, I would lean toward keeping interest rates unchanged.”…… The market immediately went into a frenzy. Gold surged nearly $90 in one day, while Bitcoin rallied 4%-5% intraday, touching $82,178 and both hitting new highs for the period. The scene was so euphoric that the “analysts” in the group had already started counting limit-up gains……
And then? On September 4, U.S. nonfarm payrolls came in: 162,000 new jobs were added in August, nearly three times market expectations. The market made a 180-degree turn. Gold plunged back below 4400 within half an hour, dropping more than $110 intraday; Bitcoin crashed from 81200 to 79400. The brighter the smiles the day before, the harder the tears the next day…… It is precisely this kind of roller-coaster action—“news triggers a surge → high-volume breakout → high-volume pullback”—that creates trading deviations and changes in market trends, thereby amplifying market moves!
II. Technical market analysis: Gold:
On the daily chart
1. The current move is a pullback after a strong bullish rebound. Current assessment: range-bound + slightly bearish
2. After the nonfarm payrolls battle, there is currently no clear short-term direction
3: The market is waiting for a breakout signal
Bitcoin: Bitcoin’s chart is more intriguing than gold’s. Its story is more like this: the breakout attempt failed, and it is now pulling back to find support.
1: The current move remains within a bullish trend. Current assessment: slightly bullish;
2: After failing to break through 83000 on the nonfarm payrolls report, it has undergone a minor pullback;
3: 76000 is a crucial short-term support level!
III. Trading strategy:
1: The current situation for spot gold can be summed up in one sentence: searching in both directions! There is strong resistance above (4475) and firm support below (4281), so it will likely grind back and forth in between. Therefore, gold has one core rule: sit back with tea and watch the show while waiting for a breakout! Trade the side that breaks out first! Better to miss it than chase the wrong move……
2: Bitcoin: 83000 is the gate of hell—think “defend” before thinking “attack.” Bitcoin is more exciting than gold—it is forming a potential double top. Once it breaks below 76000, there is no guardrail below, and the market could head straight toward 72000. So it has one core rule: guard against a breakdown! Don’t fire all your bullets at once; it is better to earn less than get trapped halfway up the mountain, left out in the wind.
3: No matter which one you trade, engrave the “survival rules” on your hand first·
Position size: Keep each trade below 10%—20% of total capital. CPI data is due this week, and volatility could double; going all-in is tantamount to gambling with your life.
Stop-loss: Before entering, first decide, “At what level will I admit I’m wrong and exit?”
For example: for a long position, watch 4281 for gold and 76000 for Bitcoin; if they break, get out—don’t get emotional with the candlesticks!
Timing: Don’t jump the gun before the data release. The volume on the CPI candlestick is the real signal—wait for it to play out before taking action!$BTC