Pax Gold is forming a very bullish pattern and is likely to bounce after 100EMA retest, maybe even break-out later.
Also, support could break-down because of Bitcoin bullishness, but let's take that trade as a crypto hedge!
Current Price= 0.04853
Buy Entry= 0.04820 - 0.04660
Take Profit= 0.05374 | 0.05814 | 0.06650
Stop Loss= 0.04231
Risk/Reward= 1:1.25 | 1:2.11 | 1:3.75
Expected Profit= +13.38% | +22.66% | +10.30%
Possible Loss= -10.74%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 1.5 months
Also, support could break-down because of Bitcoin bullishness, but let's take that trade as a crypto hedge!
Current Price= 0.04853
Buy Entry= 0.04820 - 0.04660
Take Profit= 0.05374 | 0.05814 | 0.06650
Stop Loss= 0.04231
Risk/Reward= 1:1.25 | 1:2.11 | 1:3.75
Expected Profit= +13.38% | +22.66% | +10.30%
Possible Loss= -10.74%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 1.5 months
Trade closed: target reached
TP1 would have been reached with +11.10% (1x)Unfortunately, entry was missed with the PC bot by 0.00020, that was so close!
I hope some of you guys managed to enter manually anyway and made precious satoshis.
Trade closed: target reached
Almost hitting TP2 with up to +20.09% (1x)Pax Gold confirmed the breakout, 50MA is nicely supporting the up-trend!
This is what we meant by hedging crypto buying some Gold Spot, this is truly working during uncertainty.
Trade active
All entries filledPaxGold got rejected on top of the triangle then broke-down and retraced to demand zone.
Right now it's sitting on 200MA support so we could see some reaction here.
If it goes straight to Stop Loss then it would surely trigger another crypto rally!
Trade closed: stop reached
SL hit with -10.74% (1x) and -1RPax Gold lost 200MA support and seems to be heading lower, better stay in Bitcoin for now instead.
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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.