Technical analysis by mr_bombastic_signal about Symbol PAXG: Sell recommendation (9/10/2024)

📢 Signal: SELL XAU/USD 📉 Entry Price: 2514.08 🔍 TP1: 2507.52 🎯 (66 PiP TP) TP2: 2498.56 🎯 (155 PiP TP) TP3: 2485.33 🎯 (273 PiP TP) TP4: 2472.36 🎯 (417 PiP TP) SL: 2519.45 ⛔️ (54 PiP SL) 💡 Ensure proper risk management when following signals! 💬 Comment: " Reason for Selling: Bearish Reversal Potential: XAU/USD is showing signs of a potential reversal after a recent rally, with selling pressure likely to increase. Resistance Rejection: The current price is nearing a key resistance zone, suggesting a high probability of a price decline. Entry Point Justification: Entry at 2514.08: Positioned just below a strong resistance level, allowing for an optimal entry as the market is expected to reject this area. Take Profit Targets: TP1 (2507.52): A short-term target to capture quick gains from the initial price drop. TP2 (2498.56): A mid-term target reflecting further bearish momentum as the price continues to fall. TP3 (2485.33): A long-term target for capturing a significant portion of the downtrend. TP4 (2472.36): An extended target to maximize gains if the bearish trend intensifies and a deeper pullback occurs. Stop Loss Justification: SL at 2519.45: Placed just above the resistance level to limit losses in case of an unexpected breakout, while allowing room for market fluctuations. " mr_bombastic_signal🔥TP1 reached ✅