Technical analysis by wizzywise1 about Symbol PAXG on 2/23/2025

🔍 Key Observations**1️⃣ Market Structure**- **Overall Trend:** The market is in a **strong bullish uptrend**, confirmed by multiple **BOS levels**.- **Break of Structure (BOS):** Higher highs and higher lows indicate continued bullish pressure.- **Weak Highs:** Price has formed **weak highs near 2949.93**, which suggests liquidity is resting above these levels.- **Liquidity Grab Potential:** If price sweeps these highs and rejects, it could indicate a possible short-term reversal.---2️⃣ Key Liquidity Zones**- **Previous Day's High (PDH ~ 2949.93):** A key resistance level where liquidity is likely resting.- **Previous Day's Low (PDL ~ 2916.82):** A key support level where liquidity could be grabbed before a bullish push.- **Discount Zone (~2880 - 2850):** A demand area where **smart money might re-enter long positions** if price retraces.---3️⃣ Smart Money Considerations**- **Liquidity Grab Scenario:** - If price **sweeps above 2949.93 (PDH) and rejects**, it could indicate a short-term bearish correction. - If price **drops below 2916.82 (PDL) and quickly reverses**, it would signal a liquidity grab before another bullish rally.- **Equilibrium & Order Blocks:** - Price is currently **hovering around a key supply zone**; a strong bullish breakout above **2950** would confirm further upside. - A pullback into **equilibrium (around 2900-2880)** would be an ideal buy opportunity.---4️⃣ Trade Setup Refinement**#### **📌 Bullish Scenario**- **Entry Zone:** Look for a liquidity grab around **2916.82 (PDL)** or a retracement into **2880-2850 (discount zone)**.- **Stop Loss (SL):** Below **2840**, in case of deeper corrections.- **Take Profit (TP):** Around **2970 - 3000**, targeting the next psychological resistance.- **Risk-Reward Ratio:** **1:4+**, making it a high-probability long trade.📌 Bearish Scenario (If Supply Holds at 2950)**- If price **fails to break 2950 and shows rejection**, a short opportunity could emerge.- **Short Entry:** Near **2950-2960** with confirmations of rejection.- **TP for Shorts:** **2916.82 - 2880 (liquidity grab area)**.- **Risk-Reward:** Short-term **scalp trade**, lower probability than long setups.---🔹 Final Thoughts**✅ **Primary Bias:** **Bullish**, waiting for a retracement into **liquidity zones (PDL or discount zone)** before resuming the uptrend. ✅ **Alternative Bias:** If price **fails to break 2950**, a short-term sell setup could play out before buyers re-enter. ✅ **Trade Plan:** Look for a **liquidity grab below PDL or a discount entry near 2880 for buying opportunities**.