Technical analysis by FOREX_QUEEN_10 about Symbol PAXG: Buy recommendation (3/2/2025)

This is a 1-hour Gold (XAU/USD) chart, showing a potential bullish reversal based on price action and market structure. Below is the analysis:Key Observations:Previous Resistance Zone (Red Box on the Left)The price formed a range-bound consolidation before breaking down.This zone will act as a major resistance if the price approaches it again.Support Zone (Bottom Red Line at $2,835 - $2,840)The price has bounced from this level, indicating buying interest.This could be a strong demand zone, leading to a potential reversal.Bullish Setup (Blue Box for Potential Trade Area)A higher low formation at support suggests the start of an uptrend.The price could push upwards toward $2,920, followed by $2,950 if momentum sustains.Projected Price Action (Red Arrows Upward)The chart suggests an impulse move to the upside, followed by a small pullback before continuing higher.If the price reclaims the $2,920 resistance, it could rally toward $2,950.Risk Management:Entry: Near the support zone at $2,850 with confirmation of bullish momentum.Stop Loss: Below $2,835 to minimize downside risk.Take Profit Levels:Target 1: $2,920 (previous resistance).Target 2: $2,950 (major resistance).Conclusion:Bullish Bias: The price is showing signs of reversal from strong support.Breakout Confirmation: A successful move above $2,920 could confirm a bullish breakout.Invalidation: If price drops below $2,835, the bullish setup would be invalidated.