Technical analysis by Pipsview_Analysis about Symbol PAXG: Sell recommendation (4/15/2025)

XAUUSD formed a symmetrical triangle pattern (converging trendlines), followed by a breakdown of the ascending trendline, suggesting bearish momentum.Price has broken below the ascending support trendline and is currently testing a minor consolidation zone, indicating potential for further downside.🔻 Bearish Setup:Entry Point:Current price around $3,223.36, just below the broken ascending trendline.Ideal sell entry confirmation has occurred with the break of the ascending trendline support.🎯 Downside Targets:Target 1:$3,194.752This level aligns with previous structure support and is the first take-profit zone.Target 2:$3,176.149A deeper support zone formed by previous price action. If price continues bearish momentum, it will likely react here.Target 3:$3,132.646This is a major support zone and the final take-profit level based on the chart. Reaching here would confirm a full bearish move.🛑 Stop Loss Placement:$3,247.014Placed above the upper resistance trendline and recent swing high. If price breaks above this level, it invalidates the bearish pattern.📈 Key Chart Details:Candlestick Behavior: Multiple rejections at the upper trendline suggest strong resistance.Volume: Volume spike at the breakdown level would further confirm bearish bias (not visible in the current image, but important to monitor).Risk-Reward: The setup shows a favorable risk-to-reward ratio, especially if holding till Target 3.⚠️ Potential Considerations:Watch for fakeouts or retests of the broken trendline. A retest of $3,230-$3,235 could occur before further decline.Monitor economic news/events like U.S. inflation, Fed announcements, or geopolitical tensions as they heavily impact gold.✅ Conclusion:This is a high-probability short setup for XAUUSD, with confirmation from:Symmetrical triangle breakdown,Lower highs,Clear downside targets,Well-defined stop-loss.If bearish momentum continues and fundamentals align, gold could slide toward $3,132, completing the full projected move.