TVC Gold in Outdoor Spaces: GOLD by MR_gold2 — TradingView

After breaking through maximum resistance, gold is in open space. Gold is breaking through resistance and there is no real resistance to stop it
What did we say to the people who were doing the on-site analysis yesterday?
Gold is in resistance zone but no sell signal
Buyers remain strong. Gold will break through the top, hitting all the sellers’ stops
yes
• The overall trend is clearly upward.
• Price is moving in a strong uptrend and following a trendline.
• Highs and Lows (HH – HL).
• Trading above recent demand areas, prices are stable.

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🔹 Elliott Wave Analysis
• We believe prices are in an upward momentum wave.
• The current wave is usually an extension of wave 3 or the beginning of wave 5.
• Any upcoming correction is considered an internal correction (wave 4) and not a reversal.

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🔹Time Analysis
• The current timing is consistent with continued gains.
• No strong time reversal signals.
• Any expected short-term decline will be an opportunity to reposition.

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🔹Digital Analysis
• Positive momentum remains.
• Numeric indicators support sustained rather than deep corrections.
• There is no serious digital saturation yet.

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🔹Fundamental analysis
• Gold is backed by:
• The US dollar is relatively weak.
• Expected US economic data.
• Ongoing preventive needs.
• Fundamentals are positive for gold in the short to medium term.

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🔹Price Action
• Strong bullish candle with a positive close.
• Explicitly deny land in demand areas.
• There are no confirmed negative reversal candles yet.

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🔹Support and resistance levels

🟢Support areas:
• 4320 – 4300
• 4270 – 4250
• 4200 – 4180 (strong pivot support)

🔴Resistance area:
• 4395 – 4405 (current resistance)
• 4450
• 4500 (intense psychological target)

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🔹Technical model
• Ascending channel
• Bullish continuation structure
• There is no negative breakout that confirms the trend.

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🔹Digital model
• Positive price balance is above average.
• Digital models support continuity scenarios.

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🔹 Harmonic model
• There is currently no complete inversion model.
• It is only when 4320 is broken that any underlying pattern emerges.

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🔹Supply and demand areas
• Strong demand: 4300 – 4250
• Current display: 4390 – 4450

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🔹Installation points
• Installation above 4300 meters enhances climbing capability.
• A breakout and close below 4250 would temporarily cancel the positive outlook.

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🔹 Axial area
• Main pivot area: 4300 – 4320
• As long as the price is above it → the trend is up.

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✅ Recommended
As for waiting for gold price to return to the 4360-4350 area, look for signs of rising in the direction of 4400
Alternatively, if it declines strongly and forms a bearish reversal candlestick on the 4-hour frame, we will look to sell towards 4300.
third option
Buying immediately after breaking through 4405 is a high-risk entry
Stop loss is $10, target is 4420-4440
Important tips
We do not provide you with financial and investment advice
Instead, we provide you with scientific and educational content
You are the only one responsible for pressing the buy and sell buttons

analyst
Engineer Ihab
Sayed Al-Dhahab Telegram Channel