Technical analysis by ElliotXSolana about Symbol PAXG: Sell recommendation (8/5/2025)

XAUUSD We have now completed a 1-2-3-4-5 structure to the downside (in white). Following that, we got a counter-correction in the form of an A-B-C, which potentially marks the completion of our yellow (Circle) Wave 2 🟡. However, it’s not confirmed just yet — we still have two additional Fibonacci levels at 3400 and 3418, which could act as resistance zones and final topping areas for Circle 2. We are now anticipating a 1-2-3-4-5 impulse into Circle 3, as already illustrated in yellow 🟡. So at the moment, bias remains bearish 🔻. Should we break above the Fibonacci levels mentioned, I do have an alternative scenario in mind — an ABCDE triangle formation that may have developed over the past months. If that becomes relevant, I’ll make a separate upload for it 📌. For now, I'm actively looking for sell positions, and I’ve already entered shorts ✅.