Technical analysis by LilyJones01 about Symbol PAXG: Sell recommendation (5/14/2025)

The chart you've shared is a technical analysis of the Gold Spot (XAU/USD) on a 1-hour timeframe, showing a bearish channel setup with a short trade idea. Here's a breakdown of the trade plan illustrated:1. Bearish ChannelPrice action is trending downward within a well-defined descending channel.Multiple touches on the upper and lower bounds of the channel confirm its validity.2. Trade SetupEntry Level: Just below the upper boundary of the channel (around $3,260).Stop Loss Level: Above the recent high and channel top (around $3,290–$3,300).Take Profit Level: Near the lower boundary of the channel (around $3,160).3. Strategy ImplicationThe strategy aims to capitalize on the continuation of the downtrend.The trade assumes price rejection at the channel resistance.Risk-RewardThe chart reflects a favorable risk-to-reward ratio, with the stop loss relatively tight compared to the take profit level.If you’d like, I can help calculate the exact risk/reward ratio or backtest this pattern. Let me know how you’d like to proceed!TRADE ACTIVEall hit target