Technical analysis by katleho_08 about Symbol PAXG: Sell recommendation (8/18/2024)

XAUUSD : D1 chart/timeframe . The market is currently closed at the highest price XAUUSD has ever reached. The chances of price continuing higher are there but also the chances of price reversing for our point of interest are also high. We have a low that was left without an inducement. Friday the market closed off after sweeping the BSL which indicates a sign of a reversal but it wont happen immediately, price will seek for sellstops after stop-hunting . We can expect XAUUSD to trade lower to 2293.95 in the coming days (that's just my overall look on the higher timeframe). We intra-day so whatever opportunities we get on XAUUSD are for us. We simply follow the market.