Technical analysis by Mihai_Iacob about Symbol PAXG on 10/7/2025

🔼 Ascending Channel – Explained Simply An ascending channel is a bullish pattern — but not always a bullish ending. It shows a market climbing step by step between two parallel rising lines: the lower trendline (support) and the upper trendline (resistance). 🧠 Market Psychology Buyers dominate, but sellers still show up at every swing high. Each dip gets bought, keeping the trend alive — until one side finally breaks the rhythm. ⚙️ How to Trade It • Inside the channel: Buy near the lower rail, take profit near the upper rail. • Breakout play: Go long on a confirmed close above resistance, or short on a clean break below support. • Stops: Just outside the opposite rail — below support for longs, above resistance for shorts. • Targets: Use the channel height projected from the breakout point. ⚠️ What to Watch Out For •False breakouts happen often. •Too-steep channels usually fail faster. •Volume must confirm — low volume = fake strength. •Statistically, breakdowns occur slightly more often than breakouts. ________________________________________ Key takeaway: An ascending channel isn’t a promise of a bull run —it’s a structured climb that eventually ends. Trade the rhythm, not the hope. 🎯 Statistically, in 57% of cases, up channels are broken to the downside Gold now situation: the recent 1k pips is way-way-way to steep Confirmation came with a drop under 3950 zone Usually, in the case of such a steep channel, all the move is negated, so a drop to the 3850 zone. However 3900 zone is strong support now, so a break under 3950 zone could lead to "only" a drop to this support.