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

🧠 Chart Summary:Pair: XAUUSD (Gold Spot)Time Frame: H4Market 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 BreakdownFactorNotesTrendBearish – structure shows LH and LLEntry ZonePrice rejected hard from that supply zone (red area)Candle ConfirmationBearish engulfing setup around that resistance zoneStop 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 3,240–3,250Stop 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)