Gold tests $4,657 resistance — May 4 range play & key levels

Hi, I'm Daniel, a current prop trader with 8 years of trading experience. I can help even beginners with trading. FX community Trading Lab aims to help you become profitable.

We are currently operating this service. For more details, please see the description box of this video. Today, I was also sharing technical analysis of gold within the community.

I'd like to talk about it while including some of the content. So, currently Showing 1-hour seat data. As always, focus on the short term.

To put it simply, regarding today, at this point, we are thinking from a superior perspective. Yes, basically, I'm looking to find a good spot for a long-range setup. Having given you a short-term perspective first, I will now proceed as usual to explain the details from the beginning.

Let's continue with the explanation. Gold, last weekend's chilled This is because it's a doji candlestick with a bearish shape, and the lower shadow is slightly longer than the upper shadow. It closed at [price].

In last weekend's broadcast, regarding chilled [price], first of all, the price just before [price] At the stage where it crosses this high peak, many long positions expire. The price is likely to break out at the key level of $4,657. We were telling people that it was expensive.

I would like to tell you that the upward momentum is likely to strengthen in the short term. However, last week was around two hours after the opening of the London market. A strong upward swing from the opening of the New York market until the market opened.

I believe that this was formed, and therefore the story unfolded as planned. However, the cooling process is confirmed and ultimately formed by simultaneous lines of the inline. Therefore, the long for setting up this meeting Rather than following up on the information, the first step is to focus on the range in the short term.

I think the market conditions have shifted to make it easier to shape the market. In fact today... It's still undecided, but it will be done on the inside of the foot from the previous day.

The market has formed and will continue to remain range-bound today. I think it's a situation where it's easy to make. That's all for now regarding chilling.

Next, let's look at hourly words. Detailed explanations are provided for community members, so please check YouTube. I can't deliver it, but last weekend I just gave points to the community Let me explain what was explained in the regulations.

I would like to start by talking about perspective. What is your current perspective? This will lead to a downward trend, because the recent breakout in Isuzu Okakata And at the hourly word level, it's shifting to a downward trend.

We were talking about that, and there are two things we're aiming for. First of all, let's look at the upward trend in this game. It started from this point.

Should we go long as the trend returns to an upward trend, or It is possible to take a short position. Regarding short positions, currently The point of yesterday's broadcast was this section marked with a red line, so we'll follow up on the following lines. This is the target.

So, how low is it likely to go? If there was one, it would be the downward trend in the game, the channel line, this degree I'm going to try out this strategy by lowering the timeframe and setting up the trade on a 5-minute chart. He explained that it is possible to aim for it.

Regarding the mechanism, I was explaining two key points. The first point is the one that says 1HSSL here. This is my own unique The point where short position stop-loss orders were accumulating was described in words.

We've added this mark because it's likely to continue functioning as a significant milestone in the future. Another point is that a buy setup has appeared. Key point: It is likely that a long position will be taken here.

By observing price action at key points, a buy setup appears. He was explaining that if you do that, you can make a long move. And finally, the last point is to review the market from the previous day.

We will be releasing content daily for our community members from Monday to Friday. The emergence of a buy setup indicates the formation of a strong upward trend. And the entire process leading up to the shift back to the processing trend.

I was giving an explanation, and as a result, I mentioned the importance of community-based systems. At the price point, starting with this 1HSSL, the processing momentum is clearly weak. The shape is such that the actual size of the incense gets smaller as you add 1, 2, and 3 pieces.

After the movement was confirmed, a perfect buy setup appeared here. The price formed a qualifying round at the key level of $4562, and then formed a smaller horizontal range. After that, it broke out upwards, gaining approximately $99 pips from this low.

This represents an increase of approximately 9993 pips. Therefore, as a short-term scenario... That prediction was correct.

Currently, it's forming a reversal candlestick here and testing a downward trend. However, looking at the internal movements, we see a breakout from a horizontal range. This is a false breakout, and it's attempting another downward breakout.

The current situation is that the most recent low point is around $4562. It's around here, so as long as it doesn't fall below this level, it's in an upward trend for the next hour. This will continue as before. From a short-term perspective, the outlook is upward. Today's gold forecast is... That's all.