TVC: GOLD Gold Update by MR_gold2 — TradingView

First – technical analysis
1. Price was moving within a previous ascending channel, but now:
• Push the ceiling.
• Return to test the breakout & retest area around 4220-4230.
2. A small double top forms near 4240-4250.
3. Quarterly and hourly moving averages:
• Dangerous tendency to land at a height of 15m.
• Ratings for the first half are neutral to bearish.

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Second – Wave Analysis (Elliott)

The current structure shows:
• Bullish impulse 5 ended at 4250 points.
• Now entering bearish wave A.
• Wave B corrective advance ends at 4235-4240 points.
• Now entering bearish wave C, the target area is:
• 4185
• 4145
• If the price loses momentum, it can extend to 4105.

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Third: Time Analysis
• The downturn begins at dawn today (Asia session).
• The declining time window lasts until:
• 8:30 – 11:00 Iraq time.
• Daily lows may then begin to form.

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Fourth: Digital Analysis

Pivot numbers:
• Today’s Pivot = 4218
• Highest value = 4250
• Minimum value = 4196

Numerical analysis gives:
• Below 4218 → Short-term downtrend.
• Above 4238 → Return only bullish (not available now).

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Fifth: Fundamental Analysis

No hard news right now, but:
• Markets are awaiting Friday’s U.S. employment data.
• Gold is expected to be supported in the medium term, but for now:
• USD stable
• Strong U.S. stock market
→ This puts downward pressure on gold prices.

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Sixth – Price Action

More than 15 minutes:
• 4240 strong rejection candles.
• Bearish Engulfing Candle BEB.
• The price cannot exceed the FVG upper limit area.

→ Price action confirms the bearish scenario.

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Seventh: Support and Resistance Levels

Resistance:
1. 4240 – 4250 (daily high + supply zone)
2. 4230 (fracture test area)

support:
1. 4196 (candle opening low)
2. 4185 (main support)
3. 4145 (areas with very strong demand)
4. 4105 (Stretch Goal)

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Eighth – supply and demand areas

Display area:
• 4230 – 4245
(After testing, the price failed to break through)

Areas of need:
• 4185 – 4195
• 4140 – 4155 (strongest)
• 4090 – 4110

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Ninth – Harmonic Model

It is possible to:
• Bearish BAT pattern completed at 4250
→ This reinforces the downside scenario.
• Its natural goals:
• 4185
• 4140

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Tenth: Digital Art Model
• Double top 4250
• Repeat the number 3 times on 4235
→ Confirm landing option available.

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Eleven – Anchor Point

Key points to observe:
• Staying below 4218 = continued decline.
• Stay below 4196 = accelerate down to 4180

Final recommendation
As for looking for sell areas with strong reversal signals
4210
Or wait for gold prices to fall
Number 4148-4105
Looking for buying opportunities
Or if the 4235 resistance level is strongly broken, you can look for buying opportunities and only break through the 4260 top
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