Technical analysis by muraatboyraz about Symbol PAXG on 12/18/2024

We are still dealing with the 4th wave correction below. It seems reasonable that the price will oscillate a little more for the correction to end. The correction continues in the classic Zigzag form. I tried to show how the C leg may end roughly. As the price movements progress, the labels will become completely clear. I think that the price will take a breather for the C-2 movement after making another bottom at these levels or in the lower time frame. The 2nd wave movement can be expected to retake 38.2% to 50% of the 1st wave. I have added the necessary indicators to the chart for those who will put their plan into action based on this scenario. The last peak will require updating the count. If the A:C = 1:1 ratio is reached, the count will be successful. Since the price pulled back very quickly, the 2nd wave can be labeled in this way. I think there are still levels to be taken below.