April 2nd Gold Intraday Trading Plan

In the next few hours, I am bearish on the market. By Thursday's close, the overall outlook remains bearish.

The reason is that the previously predicted "short trap" has already formed. As I mentioned in my weekly analysis: if the gold price can break through the high of any previous week—something that hasn't happened in the past three weeks due to strong short-selling pressure—and this week, the price indeed broke through the previous week's high. In my view, this breakout is mainly to lure retail short-sellers into the market. Now that the high has been broken, most traders have shifted to a bullish stance.

Meanwhile, the ongoing escalation of the situation also fuels retail investors' strong expectations for further upward movement in gold prices.

But I believe the overall trend remains bearish! In the next two days, the market is very likely to return to a downward channel. The market's early breakout and continued rally, in my eyes, is another classic big trap. After attracting more buyers, we are very likely to see a significant decline.

The 4735 level is crucial!
If a 30-minute candlestick opens entirely below this level, we may see a strong downward move—because currently, a large number of retail investors have entered the market through random buy orders, and the market has the capacity to trigger their stop-loss orders.

In the next few hours, a fierce "stop-loss hunting" wave is very likely to occur.

Please trade cautiously and wait for confirmation signals before taking action.
Wishing everyone a smooth trading day on Thursday!