Gold at $4,351 resistance — sideways range breakout or pullback? | XAUUSD Jun 9

Hi, I'm Daniel, an 8-year veteran prop trader, helping beginners learn to trade. and I run a community called Trading Lab for FX traders. For more details, please check the description box below this video.

Today I'll cover gold technical analysis shared in Trading Lab. I'll be sharing some of that content while showing the current 1H chart. Walking through this from a short term perspective as always For today I'm leaning slightly bullish, with recent sideways price action a double range has formed, and we're seeing a pullback cooling it off so we're basically expecting a breakout to the upside here so we'll be tracking this sideways range, watching for that breakout move as always, let's start with the daily candle breakdown Gold confirmed with a demand zone pin bar on yesterday's daily candle.

The bullish scenario Daniel outlined yesterday has now played out exactly as predicted. the cooling level scenario Daniel had discussed previously we have a bearish channel breakout confirmed to the upside here this sets up conditions where reversal price action can form and as I mentioned we actually saw that reversal candle form so today we can expect further follow through on that signal so the overall downtrend structure should remain fully intact even so, we should first expect a retracement, a pullback high forming, or a sideways

range developing we should be thinking about a potential bearish correction playing out from here if momentum carries over and price shifts into a sideways range, then today and the daily candle closes with a long upper wick, forming a loss setup yesterday's cooling candle and today's cooling candle are both pulling the price back down a wide horizontal range is likely forming on the base candle on the other hand if this bullish follow through continues

from here the bigger that bullish move is the better the signal will be a bullish swing forms and tests the upper boundary of this bear channel so this kind of bearish reversal scenario should also be on your radar so that wraps up the overview, and now let's move on to primary watch levels the red line here marks the exact time of yesterday's Trading Lab stream I'd like to share just a part of what was streamed for Trading Lab members. Detailed analysis is exclusive content for Trading Lab members.

So please keep that in mind. Today I'll cover the key points. I'd like to cover four key points.

First, let's look at recent volatility. After breaking out above the bearish channel, a lower wick formed. A reversal candle is forming, reclaiming lost ground.

This candle connects the two most recent bearish channel highs. After breaking above the bearish channel, it printed a long lower wick. So price is now staging a strong recovery from that low.

Technically speaking, we should stay alert for a reversal here. This is a reversal signal, not a full uptrend resumption yet. We cannot yet confirm a full trend reversal at this point.

At minimum, these two candles define the key structural reference zone. Until price breaks out above the trend line, we cannot assume an uptrend reversal. So an uptrend reversal is simply not in play under current market conditions.

Long entries targeting higher highs are off the table right now. I also mentioned that we should keep the broader opposing outlook in mind. so fundamentally we're still looking for sell setups with a downward bias, but the trend the trendline breakout level I mentioned earlier and scouting long entry setups near the recent strong buy signals I explained this setup in detail for Trading Lab members.

Now let me walk through the market recap from the weekend up to this point. After the sell setup formed, we then saw strong bullish momentum push higher. A swing formed, and the downtrend continued all the way up to this point on the chart.

I explained the process and root movement in full detail. Let me walk you through exactly how yesterday's market played out after the stream. The price reversed with higher lows, and considering the candle body width, this reversal here is the second entry signal — a pin bar setup into the New York session.

from the entry point up to the session high, that's roughly 73 dollars, or about 737 pips. so price played out roughly in line with the scenario Daniel had outlined. today's Trading Lab members stream covers Daniel's full analysis.

as mentioned earlier, price is moving in a sideways range today. let's see how this range plays out and what comes next This is a recap of the market since our last session yesterday. I also covered the price action that followed in full detail.

There was clear price action to judge the range trade. For Trading Lab members, specific candles were covered in detail. Today's outlook leans more toward the bullish side, favoring upward price movement. That's all for today's gold update.