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

Gold at Critical Support – Will Bulls Hold or Breakdown?Chart Analysis & Trade Setup:This XAU/USD (Gold/US Dollar) 4H Chart highlights Gold trading within a well-defined rising channel, approaching a key support zone that could determine the next big move.Technical Breakdown:📌 Rising Channel Formation – Gold remains within an upward sloping channel, indicating an overall bullish trend.📌 Support Zone Retest – Price is testing a major support zone at the lower boundary of the channel, where bulls need to hold to maintain upward momentum.📌 Two Possible Scenarios:Bullish Scenario (Black Arrows): A bounce from support could lead Gold to retest the 2,935 - 2,955 ATH (All-Time High) resistance zone.Bearish Breakdown (Red Arrows): If support fails, we may see a drop toward 2,809 USD, with extended targets at 2,731 & 2,699 USD.📌 Key Demand Zone Below – The 2,559 - 2,633 USD range is a strong demand area, where buyers could step in if a major correction occurs.Trade Plan:🔹 Bullish Setup:Entry: Long at 2,880 USD on support bounce.Stop Loss: Below 2,860 USD (support breakdown).Take Profit: 2,935 / 2,955 USD.🔻 Bearish Setup (Breakdown Confirmation):Entry: Short below 2,860 USD after a confirmed break.Stop Loss: Above 2,880 USD.Take Profit: Scale out at 2,809 / 2,731 / 2,699 USD.