Technical analysis by B9A-88652-NisarAhmad about Symbol PAXG: Buy recommendation (8/27/2024)

The AB=CD pattern is a popular harmonic pattern in technical analysis, used to predict potential reversals or continuations in price trends. In the bullish AB=CD pattern:- **AB leg**: This is the initial uptrend where the price moves up.- **BC leg**: After reaching a peak, the price retraces downwards, forming the BC leg.- **CD leg**: From the BC low, the price reverses and moves upwards again, ideally equal in length to AB.Traders often look for Fibonacci ratios between these legs to confirm the pattern. It's considered complete when the CD leg reaches a Fibonacci extension of 1.27 or 1.618 of the AB leg, indicating a potential reversal point. Traders typically look for additional confirmation through other technical indicators before making trading decisions based on this pattern.