Technical analysis by AHAD_FX about Symbol PAXG: Sell recommendation (10/17/2024)

Hello ! This is ligand! Today i will try to explain why i have taken this gold swing trade . Gold is around historical ATH level.Here you can see the gold rejections were made before .We are uncertain why gold raised up when situation in middle east is cooling down . For this setup i strongly agree with sellers . Since it made compulsive upward moves with low orders so a certain group or big traders bought here for their point of interest . We know that big traders buy to sell high and sell high to buy at low level. So ligand is expecting a downward move after having this fakeout .So i want a sell order from 2682 level . Our profit target is set around at least 2650 level .But I am expecting more downward move like 2637 to 2642 level. Trade Carefully and Stay with ligand !Have a good day