On August 18th, gold showed minimal volatility on Friday, trading sideways above the 3330 level in the short term. During today's early session, prices sharply declined below 3330, touching a low of 3323 before quickly recovering above 3340. This indicates strong buying interest at lower levels, suggesting that the adjustment from 3409 may have concluded, with 3323 likely representing a stage low that could serve as the launch pad for a new bullish trend.

In today's early trading, gold's rapid break below 3330 to a low of 3323 was quickly reversed, clearly signaling a halt to the decline. The early session's sharp drop was expected to lack sustainability, and following gold's bottom-fishing recovery, the 3323 intraday low appears to be established. Post-morning trading should focus on long positions, with the critical dividing line clearly set at the morning low of 3323. For sustained upward movement, this low point must hold without being breached, and the smaller the pullback amplitude, the more favorable it is for recovery.

Therefore, the intraday trading strategy is relatively clear and can be divided into two steps: First, after the morning recovery, monitor the European session's continuation strength - if prices stabilize above 3348, any evening pullback should be viewed as a bullish opportunity targeting the 3358/67 area. Second, watch for pullbacks that find support near the morning low of 3323, with defensive entry points slightly closer to the 3330 area for long positions, aiming to capitalize on afternoon European session advances.