6/5 Gold Analysis and Trading Signals

6月4日

Good morning, everyone!

Gold surged above 3380 yesterday but faced strong resistance, pulling back before testing the critical 3400 level. Despite multiple attempts, price failed to break through, highlighting a clear lack of bullish momentum near historical highs.

From a technical perspective, a potential M-top (double top) pattern is forming on the 30-minute chart. If confirmed, we can expect a deeper retracement, with an initial target around 3330, and possibly 3300 in case of further downside. Under this structure, today’s primary trading bias should favor short positions.

That said, if gold breaks above 3400 with strength, the 3416–3438 target zone becomes viable. However, any such breakout is likely to be followed by a pullback. In that scenario, we’ll closely monitor the 3392–3368 support range before executing follow-up trades.

📉 Technical Notes:

Price remains near a historical resistance zone, and buyers are showing hesitancy at these levels;

While yesterday’s Beige Book report provided short-term bullish sentiment, we need to observe whether the Asian and European sessions digest and extend that move.

🗞 Fundamental Outlook:

The key event today is the U.S. Initial Jobless Claims report, which may trigger volatility;

Gold remains supported by risk-aversion flows, but traders should be mindful of potential corrections at elevated levels.

💡 Risk Management Tip:

In such conditions, it is highly recommended to scale into positions with reduced lot size, and use tight risk controls to guard against unexpected reversals.

📌 Trading Recommendations for Today:

Sell near 3423–3436, targeting short-term pullbacks

Buy near 3312–3298, if deeper correction materializes

Pivot levels for tactical trades:
3416 / 3403 / 3392 / 3386 / 3367 / 3352 / 3343 / 3328

Strategy Summary:
Favor short setups on rallies unless 3400 is decisively broken. If support at 3362-3358 fails, expect the bearish trend to gain further momentum.

6月5日

交易進行

🔍 Key Observations:

Strong resistance is present between 3392–3403; if bulls fail to break through, the market could face another downward move;

On the 4H chart, a clear bearish divergence has emerged — this is often a warning sign of a potential bull trap followed by a sharp drop

6月6日

交易結束：目標達成

Gold failed to break above 3366 resistance, and with the bearish data, our pre-planned sell strategy played out beautifully. Price has now dropped to 3336, locking in solid profits.

⚠️ The downtrend remains intact, and while there’s still room for further downside, rapid drops often come with rebounds. If you're considering a long entry, be extra cautious.

✅ The safer approach: Wait for consolidation and a bottoming pattern before entering long.

Secure profits, manage risks — that’s the real way to win!