Technical analysis by Michael-trades- about Symbol PAXG: Sell recommendation (4/13/2025)

1. **Support Zone** (around 3190–3120): - This area held price up earlier and led to a strong bullish move. - It is marked at the bottom of the chart.2. **BOS (Break of Structure)**: - A structure break occurred here, indicating a shift in market momentum. This area is now acting as a resistance zone.3. **R.S (Resistance/Supply Zone)**: - Marked at the top around 3244–3255. - Price is expected to reverse from this level.---### 📉 Trade Setup (Short Position):- **Entry:** Between 3244–3247 (within the resistance/supply zone).- **Stop Loss (SL):** 3255 (just above the resistance zone).- **Target:** 3124 (around previous support level).---### 🔍 Other Notations:- **L.S:** Possibly a liquidity sweep or last support before the bullish move.- Candlesticks show a strong bullish trend leading into the resistance zone.- There's a shaded gray box illustrating the risk/reward of the short trade.---### 🎯 Trade Logic:The idea is that price has hit a resistance zone (where sellers might step in) after a strong bullish move. The trader anticipates a reversal and aims to short from the resistance zone down to the previous support level.Based on the current chart status of XAUUSD (Gold) on the 3H timeframe, here’s a quick summary of what’s happening right now:📊 Chart Status OverviewCurrent Price: 3,237.930Trade Bias: Bearish (Short Setup)Price Position:Currently just below the resistance/supply zone (R.S) marked between 3244–3255.Not yet triggered the short entry (or just hovering near it depending on your entry rules).🔍 Zones and Key LevelsLabelLevel (Approx)StatusResistance (R.S)3244–3255Price is nearing/at resistanceEntry Zone3244–3247Close to being triggeredStop Loss (SL)3255Remains intactTarget3124Far below – not reached yet📈 Price ActionMomentum has been strongly bullish into resistance, suggesting this could be an area of potential reversal.If price rejects this supply zone, the short setup remains valid.If price breaks and closes above 3255, the trade is invalidated.✅ What to Watch For:Rejection Candles (e.g. bearish engulfing, pin bars) in the R.S zone.Volume Drop or Spike – might confirm exhaustion or a breakout.Break below minor supports after entry to confirm downward move