✅ I just opened a long at
$PAXG #gold
I'm sharing a summary of the complete analysis behind the trade, no signals, just real technical criteria.
🔍 What did I observe?
On the 30M chart, I had marked an alert in the $5,000 zone, a key psychological level that the price needed to test after breaking upwards. Upon reaching that support after a strong bearish candle, the price leaves a subsequent candle showing deceleration with wicks on both ends, but more pronounced at the bottom, clearly indicating rejection in that area.
Additionally, the RSI is in oversold territory, which reinforces the probability of a rebound in a FOMO momentum in gold.
📉 On the 5M chart:
As I lower the time frame, I detect a bullish Break of Structure (BOS), right after that rejection ➤ that was my entry trigger.
🎯 SL: located at $5,000, relevant psychological support
📈 TP: marked at $5,100, next key level in structure
Currently, I am in profit...
Now I will observe the price reaction to the upper part of the bearish channel that has been forming in the last movement. If it manages to break it strongly, it could confirm bullish continuation.
📊 Entry based on confluences: psychological support, price reaction, clean structure, and validation by RSI.
💬 How would you have traded this retest? Let's discuss, tell me!
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