Technical analysis by Setawudh about Symbol PAXG: Sell recommendation (1/18/2024)

Overview: Gold remains below MA200 H1, indicating a short-term downtrend and presenting a potential selling opportunity. Setup: Look for confirmation signals in Overbought (OB) and Failure to Violate Gravity (FVG) zones before considering entry. Apply a stick stop-loss above $2047/oz initially, adjusting it to above $2032 if OB zone confirmation suggests non-liquidity. Risk Management: Utilize strategic risk management with a stick stop-loss to control potential losses. Adjustments based on OB zone confirmation contribute to a well-managed trade. Conclusion: Consider a sell position in Gold, focusing on confirmation in OB and FVG zones, while implementing effective risk management for a balanced trading approach.