Technical analysis by afzalforex110 about Symbol PAXG: Sell recommendation (3/18/2025)

This chart is a 15-minute Gold (XAU/USD) price analysis with a technical pattern projection.Key Observations:1. Support & Resistance:A strong horizontal support level is marked at $3,000.14.Price recently peaked near $3,016.13 and is showing signs of a potential reversal.2. Price Structure & Pattern:The blue lines indicate wave-like price movements, possibly an Elliott Wave or price action structure.The pattern suggests that the market previously experienced a strong bullish impulse, but now a retracement is expected.3. Projected Movement:The downward arrows suggest a bearish correction towards $3,000.14, which could act as a key support zone.If price respects this support, a potential bounce-back might occur. Otherwise, a breakdown could lead to further declines.Possible Trading Plan:Short Setup: If price starts rejecting resistance near $3,016 and forms bearish confirmation (e.g., candlestick patterns like engulfing or pin bars).Buy Opportunity: If price reaches $3,000.14 and shows strong support confirmation (like a bullish engulfing or double bottom).Would you like a more detailed trading plan based on this setup?