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The evening gold market faces the release of key data, with unemployment claims data following closely behind. Such periods are often highly volatile, presenting both risks and opportunities for traders.
The rebound phase is a good time to establish short positions in the trend. Conservative traders may consider shorting on rallies, aiming to take profits in the 4502-4512 range.
Friends holding short positions should be especially cautious. It is recommended to partially close positions first, moving the stop-loss to break-even levels, which can effectively avoid rapid reversals triggered by data. As for traders without open positions, it’s advisable to wait patiently and consider entry points after the market settles.
Data-driven moves are prone to hitting stop-losses, so prudent operation is paramount. There is still plenty of time tonight to capture the optimal trading window, so don’t rush into decisions.