Technical analysis by Johnson67 about Symbol PAXG: Sell recommendation (6/5/2025)

1. Resistance Zone:A horizontal resistance line is clearly marked, acting as a significant barrier near the current price level.Price has tested this level multiple times, indicating strong selling pressure.2. Entry & Sell Setup:An entry point is labeled just below the resistance line.A short (sell) setup appears to be in play, with the current candle rejecting the resistance zone.3. Fibonacci Retracement Targets:Multiple Fibonacci levels are drawn from a recent swing low to a high.Retracement levels visible: 0.382, 0.5, 0.618, 0.786, 0.886 (commonly used in price correction analysis).These levels are labeled as target zones for a potential price decline.4. Bearish Bias:The chart suggests a bearish outlook, expecting a reversal from resistance.Arrows and labeling indicate a downward price movement toward the target zones.---🔧 Technical Indicators & ToolsReplay Tool: Visible, possibly used for backtesting.Drawing Tools: Trendlines, rectangles, Fibonacci tools.Strategy Tester: Appears enabled.No visible moving averages, RSI, MACD, or volume indicators—this is likely a price-action-focused setup.---🧠 InterpretationThe trader is likely planning a short position at or just below the resistance zone.The take-profit (TP) levels are aligned with Fibonacci retracement levels.The setup assumes the resistance will hold and lead to a retracement of the prior bullish move.Risk/Reward seems calculated based on price structure and retracement confluence.---✅ ConclusionThis chart demonstrates a clean, professional price action and Fibonacci-based sell setup on GOLD/USD, with strong technical reasoning behind the entry and target zones. The resistance level is a key pivot, and the retracement targets are technically aligned for potential profits on a bearish move.400 pips runing600 pips target reached