Technical analysis by MrGeorge_Fx1 about Symbol PAXG: Sell recommendation (3/6/2025)

This chart is a technical analysis of Gold (XAU/USD) on a 4-hour timeframe from OANDA, illustrating price action within a key structure. Here’s an advanced breakdown:Market Context & Trend Analysis:Prior Bullish Trend: The price action in February followed a well-defined ascending channel, indicating a strong bullish trend.Breakout & Consolidation: The price eventually broke out of the channel, shifting into a consolidation phase between a resistance zone and a support zone.Key Technical Levels:1. Resistance Zone (~$2,930 - $2,950): This is a supply zone where sellers have repeatedly entered, preventing price continuation above.2. Support Zone (~$2,870 - $2,890): This is a demand zone where buyers have stepped in, preventing further downside movement.Price Action & Market Structure:The market is currently ranging between these levels, forming a horizontal consolidation.The rejection from resistance suggests a liquidity grab or absorption of buy orders by stronger sellers.Multiple rejections indicate buyer exhaustion and potential distribution.Future Projections (Bearish Bias):The black arrows indicate a potential bearish scenario where price might attempt a final liquidity sweep before breaking down.A breakdown of the support zone would confirm a market structure shift (MSS) to bearish.Possible retest of support as new resistance (SR flip) before continuation downward.Confluences Supporting Bearish Continuation:Momentum Weakness: Failure to sustain higher highs after the initial uptrend.Liquidity Engineering: Price accumulation below resistance hints at a possible stop hunt before a strong move.Fundamental Factors: Potential USD strength from upcoming economic data (marked by U.S. flag news icons).Final Thoughts:A decisive close below the support zone with volume will confirm bearish continuation.If price reclaims resistance, the bearish scenario is invalidated, and buyers might attempt a breakout.Trade active xauusd will drop soon Note Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! ❌ This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!Congratulations All Target reached successfully Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!