Paxos Gold is pulling back and retesting 100EMA where it is likely to bounce and continue bullish, let's hedge crypto!
If you know how to Margin trade, you can use up to 2x for that set-up
Current Price= 0.04565
Buy Entry= 0.04553 - 0.04381
Take Profit= 0.05023 | 0.05473 | 0.05972
Stop Loss= 0.04096
Risk/Reward= 1:1.5 | 1:2.71 | 1:4.03
Expected Profit= +12.45% | +22.52% | +33.63%
Possible Loss= -8.31%
Fib. Retracement= 0.5 | 0.883 | 1.272
Margin Leverage= 1x | 2x
Estimated Gain-time= 5 weeks
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
Contracts:
#ERC20 0x45804880de22913dafe09f4980848ece6ecbaf78
#BEP20 0x7950865a9140cb519342433146ed5b40c6f210f7
#BEP2 PAXG-9B2
If you know how to Margin trade, you can use up to 2x for that set-up
Current Price= 0.04565
Buy Entry= 0.04553 - 0.04381
Take Profit= 0.05023 | 0.05473 | 0.05972
Stop Loss= 0.04096
Risk/Reward= 1:1.5 | 1:2.71 | 1:4.03
Expected Profit= +12.45% | +22.52% | +33.63%
Possible Loss= -8.31%
Fib. Retracement= 0.5 | 0.883 | 1.272
Margin Leverage= 1x | 2x
Estimated Gain-time= 5 weeks
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
Contracts:
#ERC20 0x45804880de22913dafe09f4980848ece6ecbaf78
#BEP20 0x7950865a9140cb519342433146ed5b40c6f210f7
#BEP2 PAXG-9B2
Trade active
All entries filledPaxos Gold tried but was not able to properly bounce and broke the channel down.
This is good news for crypto, probably too bad for that #Hedge but it was worth a try!
Using Higher TF it has found support on 100EMA and a bounce back to supply zone is likely.
We'll likely get the chance to reduce or close at BE, SL updated down to (0.03982) to give it space!
Note
Back to Break-Even (BE)Paxos Gold bounced back on time, we did well updating the SL so far, still quite a tricky chart though!
if you did Hedge big time or averaged your entry on the dip then reducing here is probably wise.
But if you are deep in crypto then you better hold onto that position, Gold is probably the best asset right now.
Trade closed: target reached
TP1 reached with +12.45% and +1.15RPaxos Gold regained 50MA support and entered back inside the channel, we did well holding!
Still a lot of uncertainty in the market, let's edit SL up to lowest entry (0.04381)
Trade closed: target reached
TP2 reached with +22.52% and +2.07RPaxos Gold retested the channel support then continued with the uptrend, almost hitting final target.
Now entering overbought territory, a last push up before retracing down would make sense, SL adjusted up to 0.04553
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.