Technical analysis by TradeTacticsreal about Symbol PAXG: Sell recommendation (5/15/2024)

In this analysis, we'll be focusing on the H1 timeframe for XAUUSD. We are looking for SELL opportunity from supply zone area. If the market price reject (2360.00 - 2364.00) supply zone area, than we go for sell and the target is set at 2348.00. But if market price break the area of supply zone toward upside than market price will go further in upward direction to the nearest resistance area at 2373.00 - 2378.00. Indicating a potential upward movement. Let's delve deeper into these levels and potential outcomes . SUPPORT (1) KEY LEVEL:2352.00 SUPPORT (2) KEY LEVEL:2348.00 --------------------------------------- RESISTANCE (1) KEY LEVEL:2373.00 RESISTANCE (2) KEY LEVEL:2378.00Trade activeTrade closed: target reachedTrade active: Now market price come back in to the zone 2364 - 2360. After facing a strong rejection from the key level 2370 - 2374, if price break below 2364 2360 key level. Which means market momentum shift toward downside.so wait for confirmation. If price reject this 2364-2360 zone toward upward so the next target will be at 2378, than we will wait for confirmation before any confirmation, we will not execute our trade.Trade closed: target reachedTrade closed: target reached: Completed level.