TVC: GOLD Gold Update by MR_gold2 — TradingView

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Gold Analysis (XAUUSD) – 1 hour frame

first:
technical analysis technical analysis

• Gold has been in a clear ascending channel since early December.
• The price is currently in the middle of the channel – 4185 – 4190, which is the most dangerous position: either an upward retracement or a breakout of the channel bottom.
• The candle shows momentum decreasing and starting to form lower highs in a tight range → beginning of weakness.

second:
Elliott wave analysis

• The current wave appears to be a corrective wave4 in the main advance.
• Completion of the fifth wave requires attention above the 4170 – 4180 area.
• Breaking through 4160, the fifth wave scenario is temporarily cancelled, and gold prices enter a bearish A wave.

third:
time period analysis

• The current oscillation period indicates a very close bottom within 6-12 hours.
• Thereafter, if support is respected, expect a quick upward rebound.

fourth:
digital analysis

• Key figures:
◦ 4180 digital pivots
◦ 4165 effective support
◦ 4218 Digital Resistor
◦ 4245 powerful digital inversion regions
•

fifth:
fundamental analysis

• No big news on the draw.
• The market is awaiting next week’s data → which explains the current calm.
• The U.S. dollar fell slightly, which gives gold prices the ability to rise if support levels remain intact.

sixth:
price action

• The 4185 – 4195 area is a sideways move.
• Recent candle has a longer lower tail → Sell absorption signal.
• But there is no strong buying engulfment yet.

seventh:
support and resistance levels

support

• 4180 first support
• 4165 strategic support
• 4145 major channels supported
• 4105 – 4115 Strong support within FVG

resistor

• 4218 first resistance level
• 4240 – 4250 strong resistance
• 4310 – 4350 is the strongest display area on frames per hour

eighth:
Technical model

• Ascending channel (valid).
• A small bull flag pattern formed near the 4200 level.

ninth:
digital model

• Fibonacci levels:
◦ 38.2% at 4180
◦ 4160 points 61.8% → golden support level
•

tenth:
Harmonic model

• Possibility of a bullish AB=CD formation, with a target of 4235 if 4180 holds.
• Negative harmonic model is not yet complete.

eleventh:
supply and demand areas

Require

• 4180 – 4165
• 4145 – 4120 (strongest)

quote

• 4218 – 4240
• 4310 – 4350 (trend reversal area)

twelfth:
fixed point

• Stable upward trend at 4180 points.
• Breakout of 4160 = temporary trend change.

thirteenth:
pivot area

🔸 4180 – 4190
This will determine the direction of gold today.

🎯
recommend

📌
Buy trade when bearish candle appears

• Purchase: 4175 – 4180
• Target 1: 4195
• Target 2: 4210
• Target 3: 4235
• Close Stop: Only 4157

Reasons to buy: Demand zone + channel support + Fibonacci 61.8 + declining selling momentum.

🔻
4160 Broken Sales Scenario

• Sell: After closing price below 4160 points
• Target 1: 4147
• Target 2: 4115
• Target 3: 4070
•Stop loss: 4185

✔️
in conclusion

• Gold is currently in sensitive territory.
• As long as it holds 4180 points, it is better to buy.
• A break below 4160 would signal further decline.

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