Technical analysis by DhandaTheGreat about Symbol PAXG: Buy recommendation (2/18/2025)

Trend : Gold is in a strong uptrend, trading within a rising channel.The price has consistently respected the green trendline (support).Higher highs and higher lows confirm bullish momentum.Key Levels:Support: $2,750, $2,650 (major swing lows)Resistance: $2,950, $3,000 (psychological level)Technical Patterns:There are multiple bullish breakouts from consolidation zones, marked by red resistance trendlines. The recent breakout above $2,850 suggests a continuation toward $3,000.Ascending channel formation with a possible breakout to $3,250 in the long term.Indicators:Bollinger Bands: The price is riding the upper band, showing strong buying pressure.Momentum: Continues to favor bulls unless there’s a breakdown below $2,850.1-Hour Chart (Second Image) AnalysisShort-Term Trend:Gold recently retested support around $2,880 and is consolidating.Price is trading above the green trendline, maintaining a bullish structure.Bearish Pullback Areas:The bearish wick at $2,940 suggests rejection from strong resistance.A break below $2,880 may signal a temporary correction toward $2,850.Key Intraday Levels:Support: $2,880, $2,850Resistance: $2,940, $3,000Possible Setups:Breakout Buy: Above $2,940 → Target $3,000.Support Buy: Around $2,880–$2,850 with stop loss below $2,840.Short-term Sell: If price rejects $2,940 again, targeting $2,880.Trading Ideas & Strategy1. Swing Trading (Daily Chart Perspective)Long Entry: Buy on a pullback near $2,850–$2,880, targeting $3,000–$3,250.Stop Loss: Below $2,820.2. Intraday Trading (1H Chart)Buy: If price reclaims $2,940 → Target $3,000.Sell: If price rejects $2,940 again → Target $2,880 with a stop loss at $2,955.3. Risk ManagementKeep SL tight (~$20-$30 range) due to Gold’s volatility.Use trailing stop loss to secure profits as price moves higher.ConclusionBullish Trend Dominates: Gold remains in a strong uptrend, and as long as it holds above $2,850–$2,880, buying dips remains the best approach.Short-term Rejections Possible: If resistance at $2,940 holds, a small pullback may happen before another push higher.Long-term Target: $3,000–$3,250 remains achievable in the coming weeks if bulls maintain control.