$PAXG Returned to test strong demand areas after a sharp correction from the 4640–4600 area 🔻
The price is currently around 4356 and close to a historical accumulation area, and this decline is consistent with the overall weakness of gold.
📉 The short-term trend is bearish, but on larger time frames, it is still within a healthy correction in an upward trend.
RSI on smaller time frames is near oversold regions, and selling pressure is easing at support → we might see a bounce soon.
📍 Support areas:
– 4330–4300 (potential entry area)
📍 Resistance areas:
– 4430–4470
🟢 Trade idea (from scalp to swing):
– Entry: between 4330 and 4300
– Targets:
TP1: 4430
TP2: 4520
– Stop loss: close 4H below 4250
💡 The idea here is "buy the dip" within an upward structure.
As long as the price is above 4300, there is a chance for a strong bounce that could reach 4520+.
However, if it breaks below 4300, we might see a deeper dive to 4200–4150 before any real bounce.
Cancellation: clear break below 4250
⚠️ Don't forget risk management. Diversify your entry, don't over-leverage, and monitor smaller time frames for confirmation.
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