Technical analysis by Ameer-Trader about Symbol PAXG: Buy recommendation (1/18/2025)

Ameer-Trader

Gold is showing strong bullish momentum on the **monthly timeframe**, recently tapping into key **Inner Range Liquidity (IRL)** zones. This movement has left behind **bullish Fair Value Gaps (FVGs)**, signaling that the price is actively offering fair values and is likely targeting **Extended Range Liquidity (ERL)** above the all-time high.#### **Key Observations:**1. **Bullish FVGs on Monthly Chart**: These inefficiencies in price highlight the bullish intent as the market rebalances.2. **Liquidity Dynamics**: Gold is currently focused on **seeking liquidity** in the form of stops and orders residing above the all-time high.3. **IRL and Price Structure**: The recent tap into IRL suggests a re-accumulation phase, preparing for a move toward liquidity pockets at higher levels.#### **Outlook and Strategy:**- **Directional Bias**: Strongly bullish.- **Targets**: The ERL above the all-time high, likely near significant psychological levels like 2790$.### **Conclusion**Gold is respecting the ICT principle that **price seeks fair value or liquidity**. With the recent behavior, it is evident that gold is targeting the liquidity resting above its historical highs. Stay aligned with the narrative, context, and directional intent for optimal entries.