Technical analysis by The_FxTricks about Symbol PAXG: Sell recommendation (4/23/2025)

Chart Description – XAUUSD 1H (Gold Spot vs. USD)This is a multi-scenario Smart Money Concept (SMC)-based projection chart for Gold (XAUUSD), focusing on potential bullish retracements and major bearish continuations, incorporating Buy Zones, Sell Zones, and Change of Character (CHOCH) areas.🔍 Key Components:🟣 Sell ZonesTwo sell zones are identified, with the highest near the All-Time High (ATH) around the $3,500 mark.These are areas of expected bearish reaction if price retraces upward after a low.🟢 Buy ZonesLocated between $3,200 – $3,160 and another deeper one near $2,960, where potential bullish reactions may occur.🔵 CHOCH - 4HMarked in red around $3,260 area, indicating a 4-hour Change of Character, suggesting a potential shift from bullish to bearish sentiment.🔸 Key Price Levels$3,120: Historical support/resistance.$2,956.20: Major swing low and key demand zone.📊 Projected Market Path (Colored Waves)🔹 Blue Path (Bullish Retracement Scenario)Price is expected to retrace into a sell zone around $3,400–$3,460 after testing the current demand.From there, a major sell-off is anticipated.🔷 Cyan Path (Bearish Continuation)Following the retracement, the market is projected to break below the recent low and head toward lower buy zones, potentially near the $3,120 and $2,960 regions.Shows lower-high and lower-low formation, consistent with a bearish trend.🧠 Market SentimentThis chart suggests a bearish outlook for Gold unless a structural shift invalidates the CHOCH zone and supply levels. The chart highlights the importance of:Waiting for confirmation in the supply zones before shorting.Considering buy opportunities only in valid buy zones with bullish reaction confirmation.