Technical analysis by elitetrader9090 about Symbol PAXG: Sell recommendation (3/25/2025)

Trade Setup for Descending Channel in XAU/USD (Gold)**📉 Bearish Trade Setup (Sell Strategy)** Since the price is trending within a descending channel, the best trade approach is to **sell at resistance** and **target support levels**. **📌 Entry Points:** 🔹 **Sell Entry #1:** Near the upper boundary of the descending channel (~3,020 - 3,030). 🔹 **Sell Entry #2:** If price retests and fails to break above the 21 EMA (~3,015 - 3,018). **🎯 Target Levels (Take Profit - TP):** ✅ **TP1:** 3,000 (Psychological level and lower channel support) ✅ **TP2:** 2,980 (Next major support zone) ✅ **TP3:** 2,960 (Extended target if the trend continues) **🔒 Stop Loss (SL):** 🚨 **SL Above 3,035-3,040:** If price breaks out above the descending channel, it invalidates the setup. **📊 Trade Confirmation:** ✅ **EMA Rejection:** Watch for price rejecting the **21 EMA (Blue Line)** as resistance. ✅ **Volume Analysis:** Look for increased selling volume when price approaches resistance. ✅ **Bearish Candlestick Patterns:** Such as **bearish engulfing, shooting star, or evening star** near resistance. **📈 Alternative Bullish Setup (If Trend Breaks Upward)** If price **breaks above 3,040 with strong volume**, it could signal a trend reversal. In this case: 🔹 **Buy Entry:** After a confirmed breakout & retest above 3,040. 🎯 **Targets:** 3,060 - 3,080. 🚨 **SL:** Below 3,030. **Conclusion:** 🔻 **Primary Strategy: Sell on Rallies within the Channel.** 🔺 **Alternative Plan: Wait for a Bullish Breakout Before Buying.** 📉 **Stay disciplined with Stop Loss & Risk Management!*https://www.tradingview.com/x/eIpoUy1f/