Technical analysis by dodogtg about Symbol PAXG: Sell recommendation (5/16/2025)

🧠 Chart Summary: Pair: XAUUSD (Gold Spot) Time Frame: H4 Market is clearly in a downtrend – you can spot those Lower Highs (LH) and Lower Lows (LL). Price hit a supply zone (marked in red) and instantly got rejected – clean bounce. It also touched the “Yesterday High” and then dropped – nice sign of strong resistance. Now price is heading down toward Fibonacci retracement levels (50% and 61.8%) and “Yesterday Low.” 🔻 SELL Trade Breakdown FactorNotes TrendBearish – structure shows LH and LL Entry ZonePrice rejected hard from that supply zone (red area) Candle ConfirmationBearish engulfing setup around that resistance zone Stop LossJust above the red zone / “Yesterday High” (around 3,250–3,260) TP 1Around 3,168 (Fibo 50%) TP 2Around 3,121 (Fibo 61.8% + Yesterday Low) MomentumSolid bearish pressure – broke minor support, looks ready to drop 📈 SELL Plan Summary: Sell Entry: Current level or wait for a retest around 3,240–3,250 Stop Loss: Above 3,260 (above that red zone) Take Profits: TP1: 3,168 (50% fibo) TP2: 3,121 (61.8% fibo + previous day’s low)