Technical analysis by rom_fx about Symbol PAXG: Sell recommendation (9/1/2024)

XAUUSD Price is currently in premium. Shorts are safer to do than longs, according to daily bias. Fundamentally and technically, we could find a possible correction in the gold markets next week - if not, then a continuation.The price has been going well with the bullish trend, however a correction could possibly happen before any buys.Technically speaking, in the 5m timeframe, we can see a bearish structure. Yesterday's structure gave us a sell opportunity. We can see a bearish breaker, order block, and imbalances formed. Less risky short trades are according to the optimal trade entry fibonacci in the charting provided (2514-2520).