Technical analysis by PalmTreeTradingUK about Symbol PAXG: Sell recommendation (10/24/2024)

2732 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 2713.5.If price breaks above 2732 then it should hit 2742.5.Below is our recommendation;Trade 1 (Risk 0.5% of your account size);Sell Gold @ 2727Stop Loss @ 2732Take Profit @ 2713.5Trade 2 (Risk 1% of your account size);Buy Stop Gold @ 2732Stop Loss @ 2727Take Profit @ 2742.5*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.Trade 1 is activeTrade 1 hit stop loss levelTrade 2 is activeTrade 2 closed manually at 2738 as there is a resistance where price could potentially reverse. Net profit + 700 pips