Technical analysis by Mihai_Iacob about Symbol PAXG: Sell recommendation (9/9/2025)

I remain bullish on Gold overall — that’s not in question. On 24 August, I even shared a complete cross-market outlook arguing that acceleration to the upside could be the next big move. And indeed, we got it. But here’s the paradox of markets: sometimes, the stronger the rally, the more fragile it becomes. ________________________________________ Why I Warned About a Steep Correction •Yesterday, I flagged the risk of a sharp pullback. My stop loss was triggered, yes, but my conviction hasn’t changed. If anything, the higher Gold pushes, the more probable and violent the correction could be. •The daily chart says it all: since the local bottom around 3300, Gold has moved almost vertically higher. •From 26 August onward, with the sole exception of the 4 September red candle, every single day closed green — and not just small gains, but +1% or more. This type of move is powerful, but also unsustainable. ________________________________________ Market Psychology at Work Markets move in cycles of fear and greed, tension and release. A one-sided move — especially a vertical one — compresses tension like a coiled spring. Traders get trapped: •Late buyers rush in from FOMO, convinced “it will never stop going up.” •Sellers get squeezed, forced to cover, adding fuel to the fire. •But eventually, when there’s no one left to buy at higher prices, even a small wave of selling can cascade into a steep correction. This is why not even Bitcoin, in its glory days, could sustain vertical rises for long. The pattern was always the same: euphoric rise → brutal drop . Gold is no different. ________________________________________ Where We Stand Now •At the time of writing, Gold trades at 3647, after touching 3660 and marking a new ATH. •Is this the local top? Hard to say with certainty. But in my book, until we see a strong correction, there is no valid buy trade here. ________________________________________ My Trading Plan Today, I will look to sell again. Not because I doubt the long-term bullish trend, but because the short-term imbalance is glaring. A healthy market breathes, and Gold hasn’t exhaled yet. 🚀 Long term: bullish. ⚠️ Short term: vulnerable. 🎯 Until a correction resets the board, my play is on the short side.I'm still out waiting to enter short At least I have a clear place for take profit, now the big problem is where to sell and where to set stop:)Gold just touched my sell zone above 3660Closed manually with only 250 pips profit, although I wanted 1k pips from this short trade:(