TVC: GOLD Gold Update by MR_gold2 — TradingView

• The overall trend is strongly upward, followed by a clear distribution phase.
• There is a structural breakout in the 5100-5050 area.
• Then begins a strong downward acceleration = trend turns bearish.

👉 Currently:
The market is in a short to medium term downtrend.

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🌊 Elliott Wave Analysis
• The last peak represents the end of the pulse wave (wave 5).
• We begin to make major changes:
• Initial decline = Wave A
• Upward correction = Wave B
or wxy, we wait for another x The last sale is now inside the down wave C (strongest)

📉 Current wave:
• Clear extension → indicates extension C (Extension C)

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🔢 Numerical analysis (Fibonacci + motion behavior)
• Price breakout levels:
• 38.2% → Weak
• 50% → fraction
• Now close to 61.8%/extension

📌 Expected numerical target:
• 4450 → 4400
• break it = expand to 4320

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🧠 Fundamental Analysis
• Federal Reserve (Powell) Statement:
• No intention of lowering interest rates anytime soon
• Inflation remains high
👉 This is not good for gold
• High oil:
• Creates inflationary pressure → Supports USD
👉 Not good for gold either

📉 Result:
Fundamentals currently support a decline

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📉 Price Action
• Strong bearish candle + high momentum
• No clear price rejection (No Rejection)
• Every bounce = sell

📌 Explicit behavior:
👉 Sell on rallies

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📦 Supply and demand area

🔴Exhibition Area (Special Sale Area):
• 5000 – 5050
• 5100 – 5200 (very strong area)

🟢Requirement areas:
• 4450
• 4400
• 4320 (potential bottom)

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⚖️Support and Resistance

support:
• 4530 (corrupted)
• 4450 (important gift)
• 4400 (Articulated)

Resistor:
• 4800
• 5000
• 5100 (arrow keys)

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📐Art model
• Model:
👉 Double top completed
• • Break an uptrend
👉 Confirm reversal

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🦋 Harmonic model
• There is a possibility:
👉 Bearish Butterfly/Gartley at the top
• Pattern completion + strong reversal = bearish confirmation

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🎯 Axial area

📍 4800 – 4850
• Below = Continuous decline
• Above this value = correction only, not reversal

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📌 Be stable
• Stable below 4800 = continued decline
• Stability above 5000 = beginning of trend change

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🔥 Recommended (most important)

✅Basic scenario:

🔻 Sell when everything is favorable
• Admission: 4800 – 4850
• Target 1: 4650
• Target 2: 4450
• Target 3: 4400
• Stop Loss: 5000

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⚠️Alternatives:
• If it breaks through 5000 stably:
👉 Correction to 5100, then likely to fall again

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🧠Golden conclusion:

The current market is:
👉Strong correction phase after historical peak

The most important thing to remember is:

“Right now the market is not about selling… it’s about waiting for a pullback and then selling.”

Gold Master Analyst