Uptrend - continuing towards 4770

May 7

📈 1. Trend : Structure
Overview:
Price has broken out of the accumulation base around ~4.51x and rallied strongly toward the ~4.70x area
The short-term EMA has crossed higher → bullish momentum is gaining control
The current structure clearly shows: higher highs + higher lows

👉 Current structure:

Price is trading within a bullish continuation pattern
A short-term ascending trendline is supporting the rally
However, price is now approaching a strong overhead resistance zone

→ This suggests:
A bullish breakout after accumulation, but nearing a potential correction area

📊 2. Price Action
A strong breakout move cleared the 4.58x – 4.60x resistance zone
After the breakout, price continues to hold above the trendline well → buyers remain in control
RSI ~65–70 → bullish, but starting to become overheated
Price is consolidating below the ~4.72x high → a sign of supply absorption

👉 Key points:

If the current trendline holds → the upside continuation remains likely
If the trendline breaks → a short-term pullback could occur

→ Bullish momentum remains solid, but the market is no longer an “easy buy” setup

📌 3. Key Levels

🔴 Strong Resistance: 4,720 – 4,740

Recent high
Fibonacci extension 2.272
Major supply zone

👉 If breakout succeeds:
→ Price may extend toward 4.76x+

👉 If rejected:
→ A pullback toward lower support zones may follow

🔵 Support:

Near-term: 4,690 – 4,680
Major: 4,660 – 4,640

👉 If 4.68x holds:
→ The short-term bullish trend remains valid

👉 If 4.64x breaks:
→ Confirms a deeper pullback

4. Signal

SELL GOLD zone : 4770 - 4773

SL : 4778

TP: 4750 - 4722 - 4690

May 7

Trade active

Precise trend - gold price breaks through 4720 resistance.

May 7

Trade closed: target reached

XAU hit 4765 and down , exactly trend