Technical analysis by Setawudh about Symbol PAXG: Sell recommendation (1/22/2024)

Overview: Building on the previous analysis, Gold remains below the 200MA H1, affirming the short-term downtrend. A notable development occurred on Jan 19, 2024, at 20:30, with an M15 candle closing in an engulfing pattern, confirming our selling strategy. Execution: The order was initiated within the selling area based on the engulfing confirmation. Monitor the trade closely for hitting the target and stay alert for potential bullish signals. Adjustments: Consider moving the stop-loss to breakeven when bullish signs emerge, safeguarding gains while remaining adaptive to market shifts. Conclusion: Stay tuned to the plan, monitoring the trade's progress and watching for any configurations suggesting a potential bullish trend. This concise approach ensures a well-managed and responsive trading strategy.