XAUUSD at 4,121 support — does breakdown extend or bounce back to 4,201? | Gold June 19

I'm Daniel, an active prop trader with 8 years in the markets, here to help beginners I run the Trading Lab community to help you profit Check the description below this video for all the details So today again, let's dig into the technical analysis on gold I'll mix in some insights shared in our community Right now I've got the 1H chart up, and as always From a short-term view, the London session just earlier Right before it kicked off, when I posted

this to the community I told you a bounce was likely soon, and then sure enough we got three straight hours of thrust up and a solid, clean bounce played out Right now price has pushed up to a level where the bounce could reasonably end here I'd need to flatten my bias, but right now it's still a downtrend The structure itself hasn't broken down, so given how this video is laid out, my bias leans bearish, so my honest read here stays to the downside,

as always Same as usual, but next we'll break down the daily candle in detail Let's move on. Now, gold's daily candle from yesterday closed like this It closed as a bearish candle with a long upper wick, and the prior bar was a doji But we're now seeing price break out below this level decisively After this bearish doji prints, price would normally go sideways A wider range likely forms, but the very next candle breaks out fast It broke out, and today's daily candle, still unconfirmed, looks lower So we're also seeing some follow-through

to the downside So the bearish momentum here is looking really strong right now Building on what I told you earlier, right here recently price built a strong setup, then rallied, and likely this that candle is now acting as the swing high, so going forward if the trend reverses next, we'd likely test this swing level here that move is naturally needed, and this scenario will likely play out That said, the downward momentum forming this rally high

is genuinely strong right now So we have to keep that in mind, and watch for a reversal candle forming here If it doesn't happen before that, a counter-trend long entry still works here Ideally we'd want a stop-loss level here too in this setup For now it's more natural to treat this as a swing high, so a downward swing setup here is starting to form, so on a short-term basis the bias is to the downside So right now a short-side strategy is the more

rational play here So with that in mind, let's move on and dig into the 1H chart now The detailed 1H breakdown is community-only content for members So I can't fully cover all of that here on YouTube, but first I'll narrow it to a few key points from what I shared with the community Let me walk you through here in this video exactly what I covered First, by optimizing the channel lines including yesterday's price action Yesterday in the community

I called these candle 8 and candle 9 And the swing had already run quite far at that point It gets a bit tricky here, but based on where the most recent candles sit, we draw it like this This is how you can draw the channel line, using the same slope right here Same angle as the trendline gives the channel line I explained you can draw that bearish channel line right here Use this bearish channel line as the core axis for your trades One thing you

can do, plus a quick recap of the recent market environment. It formed a triangle consolidation, and that upside breakout has now played out. But the measured move still has room left, before it fully reverses here.

So when that happens, we focus on optimizing the key lines we need. I covered this part in detail for our community. So first, our overall bias here is basically still leaning to the downside.

So we wait for the channel's next breakout to flip our bias. That's what I covered yesterday and just walked through again now. As I showed, we're optimizing the channel lines right now, so naturally The trendline acting as the upper bound is this one here Wait for a clean line breakout to confirm the trend shift I explained we're still leaning bearish, plus from the prior day A recap of the price action, with this sideways range forming as a key point I focused the breakdown on the breakout above, so now let's look at yesterday Let's see how gold actually played out and where

price ended up going The day before, price broke down out of this sideways range and pushed lower The trend kept following our scenario exactly, and after the broadcast this it dropped right to the entry zone we had marked for a bullish setup It bounced at first, but the NY session open changed that In about two hours, this channel line and the optimized one both broke It broke out to the downside with very strong bearish momentum here.

So I'd say the decline is still in progress right now, and as for the range And if we count it out, starting from the low at the time of this stream up to the recent all the way down to that low, in pip terms that works out to 1794 pips, or 179 dollars in dollar terms. So we're still in a downtrend, and we've covered serious distance from yesterday into today's Tokyo session. The market dropped hard heading right into this key timing window.

So here's today's content for our community members. As always, today we'll cover what's coming and how to play it. I mentioned that bounce earlier, so now let's see how to play it.

I'm walking you through exactly how to handle it, and for new community members since you're here too, a key idea is the signs that show up before a bounce or a reversal I walked through those signs. First, I treat a bounce and a trend separately Reversals separately. What signs show up before a bounce happens Or what kind of price action shows up right before a trend reversal hits You can read all of that straight from the price action itself That's what I walked you through, and I've also jotted some notes here and I'll also recap how the market played out since yesterday For now my bias on gold stays bearish, and that wraps up today's session update