Technical analysis by Forex_Vip_Signals about Symbol PAXG: Sell recommendation (1/8/2025)

This chart depicts the price action of Gold (XAU/USD) on the 1-hour timeframe using Heikin Ashi candles. Below is the description:1. Key Levels:Stop Loss (Red Line): Positioned at 2671.01, this represents the level to exit the trade if the market moves against the position.Break Level (Gray Zone): Around 2660.28, this acts as a potential confirmation area for a trend change or continuation.Target (Blue Line): Set at 2630.71, indicating the take-profit level.2. Trend Analysis:The price has been fluctuating within an upward green channel before breaking downward.The yellow highlighted zone shows consolidation or a potential pullback area before the expected move.3. Prediction:Blue arrows suggest an anticipated bearish movement.The price is expected to retest the break level (2660.28) before dropping toward the target of 2630.71.4. Trading Plan:Short position from the break level with a target at 2630.71.Risk management with a stop loss at 2671.01.This chart appears to focus on a bearish setup, with the assumption that the price will follow the outlined downward movement after retesting resistance.60 pips runningHold