Technical analysis by shakatrade1_618 about Symbol PAXG: Buy recommendation (9/8/2025)

In my previous analysis , I noted that XAUUSD GC1! MGC1! was preparing to break out of a prolonged re-accumulation phase (April–August 2025). This scenario has played out: the market confidently broke above the upper boundaries of the range. At the moment, the price is most likely completing wave 3 of the impulse, which has shown a classic extension (~2.618 of wave 1). Next, I expect a correction in the form of a triangle or a flat correction (lasting 2–3 weeks). During this period, the volume accumulated below will be redistributed, followed by one more final upside climax. The local wave count may look like this:Base case: the 1–5 impulse is likely complete (or in its terminal stretch). We could still print an ending diagonal for wave ⑤, but this looks like terminal price action. Next: broad range/correction (structurally a higher-degree wave 4) with elevated volatility.Gold has met the targets and looks extremely overheated. By my count, the fifth impulse wave is finishing. On 12H there’s a strong bearish divergence — quite significant in scale. This looks like an obvious culmination. I’m watching closely for reversal signals to take a sizable short — only after sellers show up.