Buy gold at low levels on FridayGold / U.S. DollarFOREXCOM:XAUUSDXAU_Insights I. Market Recap (April 9) Gold: International gold opened under continued downward pressure from Wednesday, performing on the weaker side. However, the US Dollar Index and crude oil traded below the mid-band and short-term moving averages, with shorts dominating, which limited gold's decline. Fed March Meeting Minutes: More officials wanted to signal that the next move could be a rate hike rather than a continued rate cut. However, the current rise in inflation is primarily driven by crude oil prices, not by an overheating economy. Therefore, even if rates are not cut, a rate hike is not an easy decision. Rising inflation could lead to stagflation or even eventually reduce inflation. Overall Assessment: Geopolitical risks will eventually end; it's only a matter of time. In the short term, rising energy prices boost inflation expectations, shifting market sentiment from "rate-cut expectations" to "rate-hike expectations." Coupled with a liquidity crisis, gold and silver become the easiest assets to liquidate, triggering a sell-off. II. Gold Technical Analysis 1. Wednesday Price Action Review Surged then retreated throughout the day: Fell from 4840 USD/oz, hitting an overnight low of 4698 USD/oz. The daily candle formed a standard doji, primarily influenced by news/market sentiment rather than capital flows. Closed near the daily Bollinger Bands' mid-band, indicating unclear directional bias. 2. Technical Structure Assessment Daily (D1) Level: If it closes positive (bullish), the upside could reach 4850. If it closes negative (bearish), the downside could test the previous low of 4550. H4 (4-hour) Level: The candle closed below the Bollinger upper band, suggesting a volatile structure. The pullback found support near the Bollinger mid-band (around 4700), with the support effect being significant. 3. View for Today (April 10) It is not advisable to be overly bearish above 4700. The market will likely fall back into a range today, with a possible rebound. If the Asian/European session rallies, watch 4760 first, and if momentum is strong, then 4800. Downside support: 4700 → if broken, look towards 4650-4630. III. Gold Trading Strategy (April 10) Strategy Direction: Buy on pullback (dip buying) Entry Range: 4720-4730 area Stop-loss / Defense Level: Below 4700 Target Price: 4780-4800 Thanks to the TradingView community. As a senior investment analyst, this allows more traders and investors to see my trading strategy analysis.Currently focusing on gold trading. If you like my analysis, please give me a thumbs up and share it with more traders who might need it. We strive for precise trading, deeply researching charts, macroeconomic drivers, and market sentiment to build high-probability trading strategies. Here, you will find structured trading plans, risk management frameworks, and real-time analysis.