Technical analysis by Geroge_Fx about Symbol PAXG: Buy recommendation (2/27/2025)

The chart you provided is an H4 (4-hour) analysis of XAU/USD (Gold vs. USD). Here are the key takeaways:Chart Observations:1. Sell Zone @ 2897:The price recently tested the $2897 resistance level and formed a double-top pattern ("TOP 1" and "TOP 2"), indicating potential reversal.Sellers appear to be defending this level, leading to a decline.2. Trend Breakdown:The chart initially shows bullish momentum leading up to higher highs.However, an upward trendline has now been broken, confirming bearish pressure.3. Expected Price Movement:After breaking below support, the price is consolidating and may retest the previous support-turned-resistance.A continuation of the downward movement is expected, potentially targeting $2,880 - $2,865 levels.4. Bearish Confirmation:Volume analysis shows increased selling pressure after the rejection from the resistance zone.If price fails to break back above $2897, more downside is expected.Trading Strategy:Sell Entry: Near $2897 - $2900 resistance.Take Profit (TP) Levels:TP1: $2880TP2: $2865TP3: $2845 (longer-term target)Stop Loss (SL): Above $2905 to minimize risk.Alternative Buy Setup: If price breaks above $2905 and sustains, reconsider bearish bias.Conclusion:Bearish bias is valid as long as price remains below $2897.Watch for confirmation on lower timeframes before entering a sell trade.Fundamental Factors: Keep an eye on U.S. economic data (PCE inflation, Fed speeches), which may impact gold prices.Would you like me to refine the strategy further or check additional indicators?Trade Update on XAUUSD We entered a sell position in the 2897 zone. Our first take profit target was successfully reached with a gain of 130 pips. We are now focusing on our next target at 2840. I'll continue to monitor the market and keep you updated on any further developments. Thank you for your continued trust and partnership. --- Feel free to adjust any part of the message as needed!