Technical analysis by TradeChartPatternsLikeThePros about Symbol PAXG: Buy recommendation (2/23/2024)

Hello Traders! Let's delve into the recent movements of Gold (XAU/USD) on the daily timeframe, exploring potential opportunities:📉 Patterns Unfolding: V Bottom & AB=CD FormationThe charts reveal the presence of a V Bottom pattern, coupled with an AB=CD formation, signaling the potential for a bullish upswing.🔍 Current Scenario:Notably, the price has surpassed the breakout level situated at 2031.72, showcasing strength in the bullish sentiment.🎯 Critical Levels to Observe:Keep a watchful eye on key levels, particularly around 2044.95 and the 38% retracement at 2049.96.Traders may consider securing partial profits as the price approaches the 38% retracement.🚨 Risk Management Strategies:Mitigate risks by placing a stop-loss order strategically below the low preceding the breakout level.🎯 Exploring Target Zones:Potential target zones include the 62% retracement around 2061.29 and the 79% retracement at 2069.24.