Technical analysis by Ibrahim_Trade786 about Symbol PAXG: Buy recommendation (7/22/2025)

XAUUSD : Bullish Impulse Builds Momentum After Breakout Gold (XAUUSD) has recently confirmed a breakout above a key resistance zone, signaling the potential start of a fresh impulsive wave. Current price structure, supported by Elliott Wave theory and key technical levels, suggests the bulls may retain control in the sessions ahead. --- 🧠 Elliott Wave Structure & Technical Context: 🔹 End of Complex Correction: Price previously consolidated within what appears to be a complex corrective formation — likely a triangle (ABCDE) or a flat pattern — marking the termination of a higher-degree Wave (B) or (2). This phase concluded with a decisive break to the upside. 🔹 Initiation of Impulse Wave: The breakout was accompanied by a clear 5-wave impulsive move labeled (i)-(v), followed by a classic 3-wave corrective pullback (a)-(b)-(c). This correction held above the prior breakout zone — now flipped into strong support — a textbook bullish confirmation. 🔹 Continuation of Bullish Leg (Wave 3 or C): Current price action exhibits characteristics of an ongoing Wave 3 or Wave (C) — often the strongest in an impulsive sequence. The "Expand/Y Swing In Buy" zone suggests institutional interest and liquidity accumulation, reinforcing the bullish bias. --- 📍 Key Technical Levels: 🔻 Support Zones: 3370 – 3380: Previous resistance turned support; strong bounce from this zone supports bullish continuation. 3300: Major horizontal support and psychological level — a deeper retracement could retest this area if momentum stalls. 🔺 Resistance & Bullish Targets: 3410: Immediate resistance; a breakout above this level would confirm the next leg higher. 3450+: Projected extension target based on wave symmetry; further gains likely if momentum sustains and structure remains intact. --- 📈 Strategic Outlook: The technical structure on Gold favors continued upside in the near term. The successful breakout and subsequent bullish retest indicate momentum is likely to persist, especially if price holds above the 3370–3380 demand zone. 🔸 Bias: Bullish 🔸 Action Plan: Buy-the-dip strategy favored above 3370; watch for breakout and retest of 3410 for further confirmation. 🔸 Risk Management: Maintain tight stops below 3370; reassess if structure breaks below 3300. please support with 🚀 boost and drop a comment about my analysis and thanks