Tonight’s non-farm payrolls is the top priority. Let me clearly explain the three scenarios for everyone.
The prior value is -23k, and the market expectation is 56k.
If the data is higher than expected, employment looks better and gold faces pressure;
If the data is lower than expected, employment weakens and gold receives support;
If the data is close to expectations, the market will most likely trade in a back-and-forth range, washing out positions.
Also pay attention to the unemployment rate: the expectation is 4.1%. A rising unemployment rate is bullish for gold; a decline would suppress the gold price.
Right now, the price surged and then pulled back—upward momentum is already insufficient.
Even if the data is favorable, it will only lead to a rebound and technical correction. Once negative news hits, the move could accelerate into a deeper retracement.
Mu Han has reminded everyone again and again: on Non-Farm night there are especially many wick insertions and fake breakouts. Never chase trades immediately when the data first comes out.
Make sure to manage your position size, set your defenses, and don’t throw caution to the wind to bet on the data-driven move.#美国初请失业金人数升至20.6万 $BTC
The prior value is -23k, and the market expectation is 56k.
If the data is higher than expected, employment looks better and gold faces pressure;
If the data is lower than expected, employment weakens and gold receives support;
If the data is close to expectations, the market will most likely trade in a back-and-forth range, washing out positions.
Also pay attention to the unemployment rate: the expectation is 4.1%. A rising unemployment rate is bullish for gold; a decline would suppress the gold price.
Right now, the price surged and then pulled back—upward momentum is already insufficient.
Even if the data is favorable, it will only lead to a rebound and technical correction. Once negative news hits, the move could accelerate into a deeper retracement.
Mu Han has reminded everyone again and again: on Non-Farm night there are especially many wick insertions and fake breakouts. Never chase trades immediately when the data first comes out.
Make sure to manage your position size, set your defenses, and don’t throw caution to the wind to bet on the data-driven move.#美国初请失业金人数升至20.6万 $BTC
