Gold Analysis by TVC: GOLD by MR_gold2 — TradingView

I mentioned to you yesterday that gold will rebound from the 4000-3980 area to the 4100 area, because this is a very important area and is the bottom of the trend, as shown in the picture. Congratulations on your huge profit. This is what differentiates us from other channels. We hit distant targets every day with extremely high accuracy. Gold is profitable at 500-1000 points, with very little risk.

First: the general trend

The hourly trend after the rebound from 3970 became:

✔️Short term upward trend
✔️Upward corrective movement within partially broken downtrend channel
✔️ Price is now trying to break above the 4085-4100 area

📉Second: Technical Analysis

It can be seen from the figure:

• 3970-4020 Regional buyers enter the market in large numbers
• Gradual and healthy ascent (ladder model)
• Most of the inferior FVG has been filled
• Occasional gap (FVG) at 4100 and 4140
• Moving averages gradually move upward (the long MA will soon be above the short MA)

🌊 Third: Wave Analysis-Elliott Waves

The order is very clear:

🔹 Wave A falls from 4250 → 3970
🔹B wave weakly rose to 4140
🔹C wave completed at 3970

✔️Now we start a new wave of driving (1-2-3-4-5)
✔️ Price is now at the beginning of wave 3, the strongest wave in the rise

⏳ Fourth: Time Period

The time period from November 14th to 18th is the reversal point.

✔️Very clear time bottom
✔️The current cycle ends from November 22nd to 24th
✔️The peak is expected to be between 4140 – 4170

🔢Fifth: Numerical Analysis – Fibonacci

Gold’s rally proceeds proportionally:

• 0.886
• 0.92

These are the end zones for big corrections.

🎯 First Fibonacci Upside Target: 4085–4100
🎯 Second Fibonacci target: 4170
🎯 Fibonacci third target: 4250 (if wave 3 extends)

💱Sixth: Fundamental Analysis – Fundamentals

Fundamental data supports the rally:

✔️ US inflation slows
✔️ Possibility of interest rate stability
✔️DXY US Dollar Index fell
✔️Central banks continue to buy gold
✔️ The market is worried about the coming economic recession

📌 There are currently no fundamental factors supporting the decline in gold prices.

📊Seventh: Price Action

Excellent price performance:

• 4000 candles rejected
• Bullish Engulfing Candle
• Shifts in Market Structure (SMS) 4040
• Consecutive highs and lows
• Diagonal breakout of the descending channel (breakout)

🟩Eighth: Demand and Supply Area-S&D

🟩 Demand area (purchase):

1️⃣ 4040 – 4060
2️⃣ 4000 – 4020
3️⃣ 3970 – 3985 (Main Bottom)

🟥Display area (special sale area):

1️⃣ 4100 – 4120
2️⃣ 4140 – 4170 (possible trend reversal area)
3️⃣ 4210 – 4250

🦋Ninth: Harmonic model

On the clock frame, it includes:

🔷 Bullish Bat Pattern
His goal is 4120
🔷 Possibly Bullish Crab
His target is 4170

Both models support continued gains.

📌Tenth: Stable point

Areas where gold stabilizes and begins a strong advance:

📍 4060 – 4070

⭐ Pivot Zone

📌 4040 – 4060

Price stays above it = rises
Breakout = retest of 4000 then bigger move up

🎯Final recommendation – Recommended

✔️ Trading strategy:

Buying is the dominant trend
Selling now is very risky.

We are looking for purchasing from promotional areas
4060
🎯 4040 – 4050 (very good)
🎯 3970 – 3990 (real gold)

✔️ Goal:

🎯 Target 1: 4100
🎯 Target 2: 4120
🎯 Target 3: 4170
🎯 Target 4: 4210

Purchase expires
in case
❌ Fraction of the 3970 hour candle

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