Technical analysis by Michael-trades- about Symbol PAXG: Sell recommendation (4/8/2025)

This chart is a **Gold (XAUUSD) short trade setup** on a lower timeframe (likely 1-hour or 30-minute). Here's a breakdown of the analysis:---### 🔍 **Chart Components:**- **Instrument**: Gold Spot vs USD (XAUUSD)- **Entry Point**: Around **3007.10**- **Stop Loss (SL)**: **3018**- **Take Profit (Target)**: **3057**---### 📉 **Trade Idea:**- The chart shows a **bearish breakout** from a rising wedge pattern (or possibly a bearish flag), a common reversal pattern.- After the breakout, price **retested the trendline**, suggesting confirmation of the breakdown.- The arrowed projection indicates a **move downward** targeting **3057**, aligning with the lower support zone.---### 🧠 **Risk/Reward Overview:**- **Short trade bias** (expecting price to fall)- **Risk**: ~11 points (3018 - 3007)- **Reward**: ~50 points (3007 - 2957)- **Risk-to-Reward Ratio (RRR)**: Approx. **1:4.5** – a favorable ratio---### 🛠️ **Technical Signals:**- **Price Action**: Break and retest- **Chart Pattern**: Rising wedge or flag- **Bearish confirmation** from rejection wick at resistance and a clean breakout candleAs of the current candle in the chart, here's the **status of the XAUUSD trade setup**:---### ✅ **Trade Setup Status**:- **Trade Type**: **Short (Sell)**- **Entry Level**: ✅ **Price has entered the trade zone** (~3007.10)- **Current Price**: 📉 **3005.61** (below entry, in slight profit)- **Stop Loss (SL)**: ⛔ **3018** (still intact)- **Target**: 🎯 **2957** (corrected from mislabelled 3057)---### 📊 **Trade Progress**:- ✅ **Break and retest of structure completed** (clean rejection after retest)- ✅ **Bearish momentum** is currently following the projected path- 🕒 **Trade is active** and slightly in profit- 🔍 Watching for continuation below recent minor support near **3000** to gain downside traction---### ⚠️ **What to Watch**:- If price breaks **below 3000** with momentum, that would add strong bearish confirmation- Be cautious if price reclaims the retest level (~3008–3010) — it might invalidate the short setup