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

🔍 Gold Price Analysis – 1H Timeframe (SELL Setup)🧭 Trend & Market StructureThe 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)ZoneLevelsNotesSupply Zone (Sell Area)3,236.64 – 3,252.30Daily Engulfing zone – clean rejection seenDemand Zone (Target Area)3,188.31 – 3,187.63Base on H1 timeframe – minor supportStrong Support Zone3,145 – 3,160H1 Engulfing zone – strong buyer interest🔻 Sell Setup PlanParameterValueSell 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 ConfirmationsThere'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 SummaryBias: BearishEntry Zone: Clear rejection from a strong supply zoneTargets: H1 base and strong demand zoneRecommendation: Watch for a retest around 3,236–3,245 for a clean short setup with tight SL above 3,252