Technical analysis by ScalpTraderPro about Symbol PAXG: Sell recommendation (5/27/2025)

🧠 Technical Analysis Overview🔷 Pattern: Rising WedgeA Rising Wedge forms when price consolidates between two upward-sloping trendlines, with the upper trendline rising at a slower pace than the lower one.This pattern generally indicates bearish divergence — price continues to rise, but buying strength weakens.In this case, the wedge developed over multiple days, with progressively higher highs and higher lows, but decreasing bullish volume and conviction.🔻 Breakdown ConfirmationPrice broke below the lower support line of the wedge, triggering a bearish signal.This breakdown is further supported by a sharp bearish candle, showing strong seller participation.A minor pullback or retest of the breakdown zone is expected, but the overall outlook remains bearish unless the pattern is invalidated.💼 Trade Plan✅ Entry:Short positions are considered after the wedge breakdown confirmation, ideally on a retest of the broken support zone turned resistance.🛑 Stop Loss:Positioned above the recent high at 3373.188, giving the trade room to breathe while protecting against false breakouts or sudden spikes.🎯 Target:The projected target is around 3170.429, calculated based on the height of the wedge and key horizontal support levels.Additional downside is possible toward the 3120 area if bearish pressure accelerates.🔎 Additional ObservationsVolume Analysis: Volume appears to decline during the latter part of the uptrend, reinforcing the weakness in bullish momentum.Market Context: Gold often reacts to macroeconomic developments, including interest rate expectations, inflation data, and geopolitical risk. Be aware of upcoming news events that may impact price action.Technical Indicators (not shown in image but recommended): RSI and MACD are likely showing bearish divergence or crossover, adding further confirmation to the short bias.📌 SummaryThis setup presents a high-probability short opportunity with a clean technical structure and a favorable risk-reward ratio. The Rising Wedge breakdown is a reliable bearish pattern, and the clearly defined stop loss and target offer disciplined trade management.🔔 Reminder: Always wait for confirmation on the lower timeframes before entering, and adjust your position sizing according to your risk management strategy.📅 Posted on: May 27, 2025⚠️ Disclaimer: This is not financial advice. Trade at your own risk and always perform your own analysis