$PAXG/BTC 12h (#BinanceSpot) Ascending channel on support

4 Şub 2022

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

9 Şub 2022

İşlem aktif

All entries filled

Paxos 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!

21 Şub 2022

Not

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.

21 Şub 2022

İşlem kapandı: hedefe ulaştı

TP1 reached with +12.45% and +1.15R

Paxos 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)

24 Şub 2022

İşlem kapandı: hedefe ulaştı

TP2 reached with +22.52% and +2.07R

Paxos 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