Establishing a clear trend is crucial.
Gold's ability to hold above $4300 is a clear signal for today's non-farm payroll data. For short-term trading, establishing a clear trend is essential. If you believe gold is currently in an uptrend, then your subsequent operations should revolve around buying gold. We can clearly see that, based on past experience, gold is likely to remain in a consolidation phase before data releases, with minimal volatility. Today, however, gold rose from a low of around $4230 to around $4310, a gain of $80. This indicates that gold is currently in a bullish trend and also suggests a significant inflow of funds into the market.
Therefore, after the data release, our trading strategy should definitely be to buy gold, even if the data is bearish and gold experiences a significant pullback. We should look for key support levels to buy gold.