Paxos Gold just printed a bearish pattern against Bitcoin on the daily and is retesting it.
RSI looks quite overbought and up-trend is exhausted, reversal seems around the corner!
Current Price= 0.08683
Sell Entry = 0.08685 - 0.09299
Take Profit= 0.07761 | 0.06834 | 0.05907
Stop Loss= 0.10022
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +27.38% | +48.00% | +68.62%
Possible Loss= -22.90%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 2-3 months
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
RSI looks quite overbought and up-trend is exhausted, reversal seems around the corner!
Current Price= 0.08683
Sell Entry = 0.08685 - 0.09299
Take Profit= 0.07761 | 0.06834 | 0.05907
Stop Loss= 0.10022
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +27.38% | +48.00% | +68.62%
Possible Loss= -22.90%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 2-3 months
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
Trade closed: stop reached
SL hit with -22.90% (2x) and -1RPaxosGold pushed a bit higher than expected and stop hunted us, too bad since it's back to supply zone.
First target could still play out, if #Gold price stay stable (1833$ right now) that would mean #Bitcoin around 23.6k 🤞🏼
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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.