Technical analysis by ElliotXSolana about Symbol PAXG: Sell recommendation (7/24/2025)

XAUUSD 🔍 Wave Structure Overview We’re currently in a [identify the wave: e.g. blue wave (2), orange wave B, red wave 2] Prior impulse (likely 1-2-3-4-5) completed, forming (Circle) wave ① Current correction unfolding as (A)-(B)-(C) in yellow ↳ Presently in wave (A) or transitioning into (B) ↳ Within (B), structure is forming as A-B-C ↳ Currently tracking 5-wave move from 4 to 5 📐 Fibonacci & Key Levels Watching 61.8% retracement as a critical support zone ✅ This level also marks a high-probability TP area for short positions Strong confluence: 🔹 Fibonacci retracement 🔹 Extension alignment (e.g. yellow fib extension to ~4403) 🔹 Trendline reaction expected 🧠 Trade Setup (Scenario-Based) 🔸 Scenario A – Early Entry: Enter small long near 61.8% Fib zone SL: Below last swing low TP: To be refined once C-wave completes 🔸 Scenario B – Confirmation Entry: Wait for break above red trendline Add position SL below Fib zone low TP around Fibonacci extension / structure resistance (~4403) ⚠️ Key Considerations Many positions will close in this zone → increase in selling pressure Possible reversal zone → watch for confirmation (impulse or ABC) Once wave (C) completes, we’ll likely see entry into a larger bearish move 📎 Conclusion This is a high-probability reversal zone, supported by Elliott structure and Fib levels. I’m planning to scale in based on price action and confirmation. 📈 Stay flexible, manage risk, and watch the structure evolve.