Technical analysis by Robin-visionary about Symbol PAXG on 6/8/2024

Current Market Context:Friday's Decline: Gold price declined by 3%, taking equal lows at 2312.H4 Chart Observations:Imbalance: Seen at 2348, above price equilibrium.Supply Zone: Noted at 2369.685.Technical Analysis:Correction Completion: The correction completed below 2312, suggesting a potential reversal or upward impulse.Extended Stop Hunt: We had a significant stop hunt to the upside, forming an expanding flat correction pattern.Trading Strategy:Long Position:Entry: 2288.00 ✅Stop Loss: 2280.00 ❌Target: 2348.00 🎯Rationale: Based on the completion of the correction below 2312 and potential reversal signals, we entered a long position at 2288.00. The stop loss is set just below at 2280.00 to manage risk. We entered a long position at 2288.00. The stop loss is set just below at 2280.00 to manage risk.Short Position:Entry Region: Around 2348.00 📌Rationale: If price reaches the imbalance level at 2348, we will look for short opportunities considering it aligns with our technical analysis.Contingency Plan:Early Week Downtrend:Should the price continue to fall early next week, we will re-evaluate and update the chart with lower time frame structures to identify bullish trend support.Summary:Long Position: Already triggered at 2288.00, aiming for 2348.00. Long position: Already triggered at 2288.00, aiming for 2348.00.Potential Short Setup: Around 2348.00, subject to confirmation.Monitor Price Action: Early weekHave you made your trading plan for next week?The new trading week has started, are you ready?When trading, we tend to only buy and sell, but forget to set a stop loss, which will lead to a lot of losses in the trading account, and if it is more serious, it will even burn your account, we will publish a lot of accurate internal signals every day, if you are now trading alone, or you are a new trader, you can contact me, no matter how much money you have. You can have my help!