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

🟡 XAUUSD (Gold) – Bearish Setup in Play | H1 Wave Count + AO Divergence 🟡🗓️ Date: June 5, 2025📉 Timeframe: 1H🔍 Elliott Wave Count:The current structure appears to have completed a classic 5-wave impulse.Wave (5) has just printed, and notably, Awesome Oscillator (AO) confirms a divergence:Wave 3 had a higher AO peak than Wave 5, signaling bearish momentum loss.This divergence is a strong reversal signal, often preceding a corrective move (ABC).📊 Technical Confluence:Price is now entering a key Supply and Demand (SND) zone between 3401 – 3414, an area that previously caused a strong rejection.Multiple Fibonacci extensions also cluster near this level:1.618 and 2.618 extensions align closely with current highs.These confluences further strengthen the sell bias.📉 Trade Idea:🎯 Bias: Bearish📍 Entry Zone: Around 3401 – 3414❗ Confirmation: Look for bearish engulfing candle or breakdown from rising wedge🎯 First Target: 3372 (Fib 0.618 retracement of wave 4–5)🎯 Second Target: 3357 or deeper if larger correction unfolds❌ Invalidation: Break and close above 3418🧠 AO Divergence Reminder:Divergence between price and oscillator like AO (lower momentum on a higher high) often signals exhaustion of trend — perfect timing for contrarian plays at strong SND zones.📌 Summary:Wave (5) completion with AO divergence near a significant SND zone (3414–3401) sets the stage for a high-probability short trade. Monitor lower timeframes for entry triggers.