Technical analysis by Optimum369 about Symbol PAXG: Sell recommendation (7/11/2024)

Technical Analysis Method SMC ** 7 Dimension Analysis**Time Frame: H1 / 5M (Minute)1: Swing Structure: Bearish🟢 Structure Behavior: Choch, now at this extreme POI (Point of Interest) 🟢🟢 Swing Move: Corrective (about to end) ↪️🟢 Lower Time Frame (M1): Inducement is done. It's better to wait for M1 structure shift. ⛔🟢 Internal Structure: Bullish yet ⬆️🟢 Supply Area: Based on M5 timeframe 🟦2: Pattern🟢 CHART PATTERNS: No reversal chart pattern detected yet. ⬜🟢 CANDLE PATTERNS: Record Session count3: Volume🟢 After a good rally, volume is drying up now. **🟢 Volume during correction is less than impulsive volume. **4: Momentum RSICurrent: Bullish to sideways with proper bearish divergence and range shift. **5: Volatility Bollinger Bands🟢 Middle band is interim support yet. 🟦🟢 Price is currently in a contraction phase, making a Bollinger Band "W" pattern with the complete leg about to end. ➡️🟢 High with a pin bar price also indicates a Band Puncher. **6: Strength (ROC - Not Included)7: Sentiment: Bearish for M5 SMC (Smart Money Concept) timeframe✔️ Entry Time Frame: M5✅ Entry TF Structure: Bearish☑️ Current Move: Correction at extreme POI ☑️☑️ Resistance Area: Gives multiple rejections ❌☑️ Candle Behavior: Not clear ⬜☑️ Trend Line Breakout: Waiting ⏳** Decision:** Sell if price gives a breakout of the trend line ⬇️** Entry:** 2381✋ Stop Loss: 2387 Take Profit:** 2355Risk-to-Reward Ratio:** 3.5 Expected Duration:** One daySUMMARY:Based on the multi-timeframe analysis, a potential short selling opportunity exists with a bearish bias. The current corrective move might be nearing its end at the extreme POI. However, waiting for confirmation from a bearish breakout on the M5 timeframe and a clear bearish candle pattern is recommended before entering a trade. Remember, this analysis should not be considered financial advice.