Technical analysis by BlueOceanFxAcademy about Symbol PAXG: Sell recommendation (2/12/2025)

Welcome back, traders! Mr. Blue Ocean FX here, breaking down the latest price action on gold (XAUUSD). Let’s dive straight into the technicals and see what the market is telling us.Market OverviewGold has been on a strong bullish run since December 30th, surging from the 2620 area all the way to 2942, marking an aggressive impulse move. However, last week, we saw signs of exhaustion, particularly with a rejection wick forming on February 10th, signaling potential downside pressure.Daily Timeframe AnalysisOn the daily chart, price action printed a double top around 2929, followed by a strong bearish engulfing candle that closed on Friday. This indicates a potential momentum shift from buyers to sellers. We also placed a key level at 2881, marking the recent wick low. This level is crucial because if price breaks below it, it would confirm sellers stepping in with conviction.H4 Timeframe AnalysisScaling down to the 4-hour (H4) chart, we can see a clearer structure:•Price spiked high, retraced, and formed a higher low before another push up.•The latest move shows a break and retest pattern, where price broke structure and is now testing previous support as resistance.•While the H4 candle looks promising, we are waiting for a solid close to confirm the momentum shift before executing a trade.H1 Timeframe Execution PlanOn the 1-hour (H1) chart, here’s our trade setup:1.Waiting for a pullback after the breakdown.2.Looking for price to form a lower high at 2896.3.Entry confirmation comes with strong bearish volume and a small retest.4.Short position at 2896, with a stop loss just above the 2906.55 wick high.5.First target: Recent lows near 2881 for a 1:2 risk-to-reward ratio (RRR).6.If price breaks below the daily low, we could see further downside continuation.Final ThoughtsThis setup is in play, and we are watching how price reacts at key levels. If the market confirms our bias, this could be a solid high-probability short trade.🔥 If you found this breakdown valuable, don’t forget to:✅ Like & Subscribe for more trade ideas✅ Boost the post to help the community✅ Share with a fellow traderLet’s catch these pips! See you in the next breakdown. Boom! 🚀💰