Technical analysis by millatbd about Symbol PAXG: Buy recommendation (7/6/2025)

We will analyze gold using the Ichimoku indicator, beginning with a wave analysis. Currently, gold is in the P-wave. When the market was in the I-wave, it reversed after 11 candles, which is 2 more than the standard 9 candles (Kihon Suchi) according to Ichimoku time theory. Then the market reversed again after 22 candles, which is 4 less than 26 (another Kihon Suchi number). After that, it reversed again after 10 candles, which is 1 more than 9 (Kihon Suchi).Now the market has moved up again and has formed 5 candles so far in the current move. So, based on Ichimoku time theory, we may expect 4 more bullish candles before a potential reversal, as 9 is a key time count.Currently, the market is trying to move up from the cloud. The Ichimoku Cloud acts as a strong support/resistance zone. Additionally, based on Japanese candlestick patterns (Sakata methods), a San-zan or Morning Star formation has appeared at the edge of the cloud, which also signals a bullish direction.Now, based on Ichimoku price theory, we will try to determine how far the market can move.According to Ichimoku price theory:C = A + (A − B)Here:A = 3449B = 3250So,C = 3449 + (3449 − 3250) = 3648Therefore, the market may rise up to the 3648 level.To take a trade, lower time frame analysis is necessary.