Technical analysis by douglasswg about Symbol PAXG: Sell recommendation (6/6/2024)

Gold case study, why short? Big picture: - Monthly waiting pullback since Feb - Weekly MA10 potentially become resistance ; 2351 - EMA21 - 2243 (deep thinking), time vs pricing > 225x-226x vs CMP (1000p) - Overall outlook = Healthy pullback Trade setup reason: Entry 2370-2380 (can layer 1-2 trades) SL above 50% fibs 2388-2390 area RR 1:5 Fibs 38.2% Targets 2303 and 227x area H4 trending down > sideway > manipulation > continuation down current market sweep liqduity above, pending down. Expect movement on Friday.SELL LIMIT HIT2303 TP1 hit - first target hit + liq.gap filled. Next downside 227x area, trader may secure 80% and left 20% run lower