Technical analysis by ashif030 about Symbol PAXG: Sell recommendation (2/4/2025)

Market Structure & Trend:The chart shows a strong bullish move followed by a correction.The price has reached a key resistance area near $2,816 - $2,829, where selling pressure is observed.A potential bearish setup is forming, indicating a possible price decline.Key Observations:Bearish Setup:A short trade setup is marked with a stop-loss above resistance (~$2,829).The take-profit target is near $2,786, aligning with previous demand levels.Support & Demand Zone:A yellow demand zone (H1) is marked around $2,776 - $2,786, which could act as a strong support area.If price reaches this zone, buyers might step in for a potential reversal.Trendline & Structure:The chart shows a possible break of the rising trendline, supporting a bearish move.If price fails to break below $2,786, consolidation or a bullish bounce might occur.Trading Plan:Bearish Bias:Entry: Near $2,812 - $2,816Stop-Loss: Above $2,829Take-Profit: $2,786, with potential extension to $2,776Bullish Reversal Possibility:If price strongly reacts at the H1 demand zone, buyers could enter for a reversal back to $2,800+