Technical analysis by mamnunamalik about Symbol PAXG: Sell recommendation (11/10/2024)

Dear Traders, As we focus only in Elliot Wave analysis, we found out that the gold price is in still its major 3rd wave.We will consider this 3rd wave is completed only when the (2) and (4) matured trend line will be broken.As you can see, the price has already showed a rejection from this trend line. (Daily Chart)Meanwhile, in minor scenario which is in 4 hours chart it is showing us an ongoing zigzag correction.As a wave analyst, I am considering this drop as wave "A" of zigzag which will have 5 moves in 4 hours chart.I will break down the 4 hours chart for you in a note of this post.