Technical analysis by Setawudh about Symbol PAXG: Sell recommendation (1/19/2024)

Overview: Gold's continued position below MA200 H1 suggests a short-term downtrend, creating a potential selling opportunity. Setup: Look for confirmation signals in Overbought (OB) and Failure to Violate Gravity (FVG) zones for entry. Apply a stick stop-loss above $2047/oz initially, adjusting it to above $2032 if OB zone confirmation suggests non-liquidity. Additional Sell Area: Consider a sell position in the range of 2023-2032, integrating this zone as an additional opportunity to capitalize on the downtrend. Risk Management: Implement 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: Explore a sell position in Gold, focusing on confirmation in OB and FVG zones, along with the identified sell area of 2023-2032. Effective risk management ensures a balanced approach to trading.