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

Chart Overview & Context Structure: A strong rally followed by sideways movement, which can indicate either reaccumulating or distribution. Current Price: ~2815 Key Observations: Buying Climax (BC) & Automatic Reaction (AR): The price made a strong impulse move up and is now consolidating. We see multiple taps into resistance (purple zones), suggesting supply absorption. Break of Structure: A recent move down suggests weakening demand, supporting a potential distribution thesis. Key Levels & Liquidity Zones ATH Resistance at 2832-ish – Previous highs, which may act as a strong liquidity zone. Supply Zones 2822 area – Multiple rejections from these levels suggest sellers are active. Low 2808 – If broken, it could confirm a markdown phase. First Target is 2794 – A key level where liquidity likely sits. If price reaches here, a reaction is expected. PDL at 2772 – Stronger liquidity area, potential final target for a markdown. Short Setup (High Probability). Breaking 2808 would confirm markdown to 2794 then maybe 2772. We have good signs of distribution (failed breakouts, structure shifts etc...). Entry: After a lower high near 2815–2818, confirmation with bearish momentum. Target 1: 2794 Target 2: 2772 Invalidation: If price breaks above 2822 and further ATH Long Setup: I won't take any, my final Bias is bearish and of course I might be wrong... Trade safely!!Didn't happen...