Technical analysis by traderchamp_ about Symbol PAXG: Sell recommendation (2/21/2025)

🚀 XAUUSD Update – Key Levels in Play!📉 Major Support & ReboundAs predicted in our recent analysis, gold found strong support at $2880, triggering a bullish reversal. This move has sent XAUUSD soaring back above $2950, securing a +2.58% gain in the process.🔥 Technical Setup & Key Observations✅ Head & Shoulders Formation on Hourly – A clear bearish structure is forming, but confirmation is still required.✅ Failed Breakout at $2940 – Gold attempted to push higher but failed to hold above resistance, moving back into the range.✅ Critical Support at $2925 – This is the key level to watch. A confirmed break below could trigger a further drop toward $2900.📊 What’s Next?🔹 Bearish Scenario – If price breaks $2925, expect a decline toward $2900, with further downside possible.🔹 Bullish Invalidations – If XAUUSD reclaims $2940, the head & shoulders pattern fails, and we could see a renewed rally toward $2960+.🔹 Watch Volume & Momentum – Increased selling pressure will validate the bearish move, while strong buying at key levels may shift the trend.🎯 Trading Plan & Strategy📌 Short positions on a confirmed $2925 break, targeting $2900.📌 Long positions only above $2940, with targets at $2960 and beyond.📌 Stay cautious—this is a key inflection zone, and price action will dictate the next move.💡 Gold’s next major move is in the making—are you positioned correctly? 🚀📊