Technical analysis by Optimum369 about Symbol PAXG: Sell recommendation (8/5/2024)

Core Analysis MethodSmart Money Concepts😇 7 Dimension AnalysisTime Frame: 15 min1: Swing Structure: Bearish with CHOCH after taking inducement. The impulsive swing move is finished and now moving towards the decisional OB as a pullback, about to mitigate the decisional POI OB at the initial point of the premier zone. We will take a sell entry using the classic SMC entry model. After the breakout, this is also a CIP area.2: Pattern🟢 CHART PATTERNSReversal: V-shape pattern indicating possible reversal from here and a rectangle pattern is also observed.Shakeout.🟢 CANDLE PATTERNSNot any significant candle pattern observed except for a tower top.3: Volume🟢 A big difference is seen during the impulsive move and the correction move in terms of volume. No buy-side volume indicates another sharp sell move is expected.4: Momentum RSI🟢 Fully intact in the bearish zone, taking resistance at the 60 level, indicating another range shift. This impulsive move ended as loud moves, which is a very strong signal for a sell. Also, a Grandfather-Father-Son entry with H4 as GF.5: Volatility Bollinger Bands🟢 Very tight contraction just started, indicating a strong squeeze breakout and walking on the band. A headfake also took place right at the upper band, and a BB W pattern is observed.6: Strength ADXRight now, totally sideways.7: Rating: ⭐⭐⭐ 50% Probity (because of the decisional OB entry)✔️ Entry Time Frame: 15M✅ Entry TF Structure: Bearish CHOCH☑️ POI: Decisional OB💡 Decision: Sell limit🚀 Entry: 2419✋ Stop loss: 2429.5🎯 Take profit: 23.4😊 Risk to reward Ratio: 1:8🕛 Expected Duration: 1 daySUMMARY: The analysis indicates a sell position based on Smart Money Concepts methodology, with structure, patterns, volume, momentum, volatility, strength, and sentiment all pointing towards a bearish move.Accept your Stoplose