Technical analysis by money_magnet2 about Symbol PAXG: Buy recommendation (6/3/2025)

This chart shows a long (buy) trade setup for Gold (CFDs on Gold in USD per ounce) on the 30-minute timeframe. Here's a breakdown of what’s depicted:Chart Analysis:Current Price: ~3361.66Buy Entry Zone: Indicated by the green circle near current price level.Take Profit: Marked at a significantly higher price level.Stop Loss: Set below the current price level.Risk/Reward Ratio: Visually favorable, suggesting a high potential reward relative to the risk.Interpretation:The trader expects the current down-move to reverse, hence the suggested long entry.The chart assumes that price will bounce off this level (possibly support), then move up to the take-profit target.This setup appears to be based on trend continuation or support bounce logic.Key Considerations:Look for confirmation such as candlestick reversal patterns, volume increase, or RSI divergence before entering the trade.Be mindful of news/events that might affect gold prices—those red icons below the chart could indicate upcoming economic events.Would you like help analyzing whether this trade setup is strong based on technical indicators or news?ACTIVE TRADE