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

🔍 Gold Price Analysis – 1H Timeframe (SELL Setup) 🧭 Trend & Market Structure The market is still bearish overall. Price is trading below the 200 MA (red line), showing strong selling pressure. We can see a clear pattern of lower highs (LH) and lower lows (LL) forming. Price recently pulled back into a minor resistance zone and got rejected – a solid sign of a sell zone setup. 📌 Key Areas (Supply & Demand Zones) ZoneLevelsNotes Supply Zone (Sell Area)3,236.64 – 3,252.30Daily Engulfing zone – clean rejection seen Demand Zone (Target Area)3,188.31 – 3,187.63Base on H1 timeframe – minor support Strong Support Zone3,145 – 3,160H1 Engulfing zone – strong buyer interest 🔻 Sell Setup Plan ParameterValue Sell Entry3,236 – 3,245 (on bearish rejection) Stop LossJust above 3,252.30 (above supply) Take Profit 1Around 3,188 (Base H1 area) Take Profit 23,145 – 3,160 (strong demand zone) 💡 Extra Confirmations There's a nice bearish engulfing candle right in the D1 zone → strong seller signal. Price couldn't break above the 200 MA → confirms bearish pressure. EMA 9 and 21 are starting to cross down → supports the short idea. 📉 Quick Summary Bias: Bearish Entry Zone: Clear rejection from a strong supply zone Targets: H1 base and strong demand zone Recommendation: Watch for a retest around 3,236–3,245 for a clean short setup with tight SL above 3,252