Technical analysis by Johnson67 about Symbol PAXG: Sell recommendation (5/19/2025)

🟩 Chart Type:CFDs on Gold (XAU/USD), 1-hour chart.Active price: Around $3,231.810.🧠 Technical Breakdown:✅ Harmonic Pattern Structure:Labeled with points X, A, B, C, D forming the classic M-shaped retracement pattern.The harmonic pattern's retracement ratios (e.g., 0.535, 0.604, 0.724, 1.177) are marked at key turning points, hinting at Fibonacci confirmations.The move from point D shows potential for bullish reversal if the harmonic holds.📉 Market Structure & Zones:Support marked at the base (near point X), indicating historical buying interest.Resistance zone identified just below $3,250, aligning with a recent high (point B).BOS (Break of Structure) noted below point C, suggesting bearish momentum was interrupted—potential signal of reversal or pullback.📊 Trade Setup:Risk/Reward Zone:Red zone = Stop-loss region above the resistance (~$3,250+).Green zone = Take-profit region, significantly lower (approaching $3,045 and beyond).This indicates a short (sell) trade setup based on rejection at resistance and bearish pattern completion.🛠 Tools/Indicators:Drawing tools used to mark channels, harmonic geometry, Fibonacci levels, and price action zones.No oscillators or moving averages shown—this appears to be a pure price action and pattern-based strategy.🧩 Interpretation:The chart suggests a bearish bias near-term, based on:Completion of harmonic pattern at point D.Resistance zone rejection.BOS confirmation earlier, adding to bearish narrative.Trade aims to ride downside toward ~$3,045 or even $2,900 if momentum picks up.200 PIPS RUNING IN PROFIT