1hour analysis Gold sell setup GOLD (US$/OZ)TVC:GOLDThe_Gold_Signals1. Chart Overview Instrument: Gold CFDs (USD / OZ) Timeframe: 1 Hour (1H) Platform: TradingView Current Price Area: ~4,484 Market Context: Strong bullish move followed by consolidation near resistance 2. Purple Rectangles (Key Supply & Demand Zones) 🔴 Upper Purple Zone – Resistance / Supply Zone Located around 4,510 – 4,540 Marks a major selling pressure area Price tested this zone and failed to break above This suggests: Institutions or sellers are active here High probability of rejection or pullback ➡️ This is why a bearish arrow is projected from this zone. 🟣 Lower Purple Zone – Support / Demand Zone Located around 4,310 – 4,330 Strong buying base Previous accumulation area before the rally Acts as: Potential target zone for a correction Area where buyers may re-enter 3. Blue Rising Channel (Ascending Channel) Formed by higher highs and higher lows Represents a controlled bullish trend Price respected: Lower channel = dynamic support Upper channel = dynamic resistance 📌 Important: Price reached the upper boundary of the channel Combined with resistance zone → trend exhaustion signal 4. Red Inner Channel (Momentum Structure) Shows short-term bullish momentum Steeper than the main blue channel Indicates: Aggressive buying Late-stage trend acceleration ⚠️ When price breaks below this red channel: Momentum weakens Correction becomes more likely 5. Fibonacci Level (0.864) Displayed as: 0.8646022724613668 Indicates a deep Fibonacci retracement/extension Often associated with: Trend completion zones Reversal or strong pullback areas 📍 Price reacting near this level strengthens the reversal bias. 6. Candlestick Behavior Recent candles show: Smaller bodies Upper wicks This suggests: Buyer exhaustion Sellers defending resistance ➡️ A classic distribution phase near the top. 7. Black Arrow Projection (Expected Price Path) Indicates a forecasted bearish move Structure: Minor consolidation / fake upside Breakdown below structure Strong sell-off 🎯 Likely targets: Mid-channel support Then lower demand zone (~4,320) 8. Overall Market Bias ✅ Bullish: Higher timeframe trend Strong previous impulse ⚠️ Bearish (Short-term): Price at resistance Channel top rejection Fibonacci exhaustion Weak momentum candles 9. Summary (Simple View) Trend: Bullish, but overextended Zone to sell: Upper purple resistance Expected move: Pullback / correction Major support: Lower purple demand zone