Gold at 4,230 resistance — next leg up or pullback first? | XAUUSD Jun 12

I'm Daniel, an 8-year pro prop trader helping beginners master FX trading. I run the FX Trading Lab community for traders. For more details, check the description box below this video.

Today I'll cover gold technical analysis from Trading Lab. I'll be sharing some of that content as we go, starting with the one-hour chart. I'll answer from a short term perspective using this chart.

Let me give you a rough overview — it's clearly a continuation of the chart. A strong bullish swing with solid upward momentum is forming here. Both highs and lows are consistently stepping higher now.

So we're still in an ongoing upward trend continuation. I shared this analysis early with Trading Lab members first. We can see attempts to break above the recent highs in the Tokyo session.

As you can see, the bias is bullish. Starting from the Tokyo session, I'll go ahead and walk through a detailed breakdown of yesterday's gold market. The daily candle has confirmed a significant swing high just before this move.

Following a long run of candles, this looks like a selling climax bar. So on the daily chart, a reversal was highly likely. And indeed, yesterday's daily candle confirmed exactly that.

It has erased nearly 90 percent of the prior bearish candle. This candle shape has formed, and the low has since reversed back upward. The daily chart shows very strong bullish momentum driving this move.

After this, a continued rebound looks highly likely from here. The most likely scenario is a sideways consolidation range forming here. A pullback correction against the trend is the bearish case.

The upper boundary reference candle is still unclear for this range. price action forming the defining candle I think there's a strong chance this candle will complete by end of day for the bullish scenario But considering yesterday's volatility, the bear channel boundary matters here. So a test of that level would be a natural outcome here.

This candle could also set up a nice buying opportunity. The probability is high, and after that climax candle I mentioned, we expect a solid setup. There's another key point worth noting here as well.

This bearish channel has long defined the downtrend structure. This area is being overshot by the current price action. This drop has deviated significantly from normal volatility levels.

It's likely to act as a reversal candle, but may also fail to confirm. That incomplete reversal candle was what I mentioned earlier. So this candle doesn't belong to a bullish structure.

Bullish traders may see this as a buy setup signal. That's my read on the Tokyo session outlook. Now let's drop down to the 1H chart for a closer look.

The detailed analysis is exclusive to Trading Lab members. So I can't share the full details here on YouTube, but briefly here are the key points we cover in Trading Lab I've narrowed them down to five key topics I'd like to walk you through today. First, the candle I was watching closely — this is where the bullish swing began.

This is where the bullish swing comes to an end, and after that a new move begins. Two candles connect to form this bullish swing structure. We can draw a trend line across this bullish swing sequence.

Once the swing ends, it makes sense to wait and look for a short entry. That's the more rational approach for finding a short entry point. I had mentioned this, and at that point a trend reversal so we couldn't confirm it yet, I shared a short entry level at the time of the stream, where price was sitting right around where this small key level formed on the chart and that was the situation we had, which is a key point here so on this candle, a short entry was triggered here likely with a slightly larger size than the previous key candle forming a valid sell setup worth watching closely

after breaking out above this bearish channel to the upside so a pullback here naturally sets up a sell signal while this sell setup remains in focus on the chart no follow-through on the next candle, forming a minor key level this became the origin point of the second bullish swing move below this level, long position stop losses were clustered this is a key reversal zone, sandwiched between two bearish daily candles from the prior session so these

two candles together appear to be forming a sideways consolidation range here to add on the daily view, consider the short positions sitting above here regarding the key areas where stop losses tend to cluster it acts as a sell zone and a potential breakout trigger so this zone naturally attracts stop orders that fuel the breakout move strong breakout moves tend to push through that level fast also consider the opposite direction — a bullish trap

setup to the downside stop orders are clustered here, so a wave of closing sells could trigger breakouts like this tend to come with a spike in volatility I also covered a full review of the previous day's price action and market conditions in detail covering the doji candle formation and the inverted triangle pattern covering the full process leading to the sharp drop The day before, Daniel did a recap for Trading Lab members So let's look at how

the market actually played out after that Both bullish and bearish scenarios ended up hitting their targets. Right after this red line, a bearish sell setup appeared on the chart. So we shorted down to that lower support level of the range.

Holding the position overnight is fine for a day trade. A bearish setup formed right at this level. It then dropped roughly 59 dollars, which works out to about 597 pips to the downside.

After that, price broke out sharply to the downside. Price then formed a reversal candle and broke the range to the upside. Strong bullish follow-through pushed price higher during late night Tokyo time.

The breakout through that level was very strong. volatility was expanding quite significantly at that stage from the swing low up to today's most recent high on the chart up to the high set in the early morning hours just before the Tokyo session open, about 174 dollars that's 1,746 pips in total, showing just how high the volatility and price range has been on this move up this recent swing has covered quite a significant price range rising with momentum that rivals any previous bullish move we

have seen today's broadcast for Trading Lab members will cover what comes next today's Trading Lab members broadcast covers this area right here a bullish setup formed, then pushed to new highs this attempt to push higher is visible when reading the yearly price movement for Trading Lab members, today's follow up analysis comes after this As I mentioned, we are reviewing the market from last time. explaining how beginners can apply it to their next trade Daniel posts this market analysis almost every day, Monday through Friday, without fail. As mentioned, today's trend remains bullish overall. That wraps up today's gold analysis.