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Technical analysis by TheFxAce about Symbol PAXG: Sell recommendation (9/17/2022)

https://sahmeto.com/message/2741809
TheFxAce
TheFxAce
Rank: 23363
1.4
Sell،Technical،TheFxAce

We have finally got a WEEKLY close on GOLD under the 1700 level which was a huge support level at the bottom on the sideways DISTRUBUTION range we have been in since 2020 so were to next ?As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the market to drop pretty quickly down towards 1630 then get a reaction there for retest of 1700 then a sell of again down towards the Monthly DEMAND/BUY zone at 1600.How will I play this ?? Will look to BUY and SELL I will look for my indicator to give me a BUY siganl at the Weekly DEMAND/BUY zone at 1630 on the Daily charts and will target 1700.I will look to SELL the market on a Daily SELL signal at the 1700 area For my analysis to be invalidated then the we would need to see a weekly close back above 1700 pretty quickly .Hope you enjoying the idea

Translated from: English
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Signal Type: Sell
Time Frame:
1 week
Price at Publish Time:
$1,667.46
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