Paxos Gold is showing some clear reversal signs after regaining 50MA support and about to breakout of the neckline!
That gold-backed cryptocurrency is worth one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults.
The token is available on Ethereum & BSC, more information on paxos.com/paxgold
If you know how to Margin trade, you can lever that set-up respecting strick risk management
Current Price= 0.02891
Buy Entry= 0.02900 - 0.02846
Take Profit= 0.03045 | 0.03230 | 0.03402
Stop Loss= 0.02758
Risk/Reward= 1:1.5 | 1:3.1 | 1:4.6
Expected Profit= +5.99% | +12.43% | +18.41%
Possible Loss= -4.00%
Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 3 weeks
That gold-backed cryptocurrency is worth one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults.
The token is available on Ethereum & BSC, more information on paxos.com/paxgold
If you know how to Margin trade, you can lever that set-up respecting strick risk management
Current Price= 0.02891
Buy Entry= 0.02900 - 0.02846
Take Profit= 0.03045 | 0.03230 | 0.03402
Stop Loss= 0.02758
Risk/Reward= 1:1.5 | 1:3.1 | 1:4.6
Expected Profit= +5.99% | +12.43% | +18.41%
Possible Loss= -4.00%
Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 3 weeks
Trade active
First entry filledPaxosGold just regained 200MA support and is breaking out of the A&E neckline!
Trade active
Second entry filledPaxosGold dipped down to 50MA retest and is now trying to regain 200MA and break out after!
Trade closed: target reached
TP1 reached with +5.99% and +1.5RPaxosGold broke-out as planned confirming the pattern, up to +53.10% using 5x Margin Leverage!
Road to higher targets now, SL edited to lowest entry (0.02846₿) which should be safe enough.
Note
PPAXG/BTC 1hThat bull-flag could play out for continuation!
Note
PPAXG/BTC 1h 📈Insane accuracy so far, isn't it?!
Trade closed: target reached
TP2 reached with +12.43% and +3.1RPaxosGold staying solid while Bitcoin is retracing down, up to +62.15% profit using 5x.
What a great crypto hedge, SL adjusted under highest entry (0.02899₿) to secure the trade!
Note
Contracts:#ERC20 0x45804880de22913dafe09f4980848ece6ecbaf78
#BEP20 0x7950865a9140cb519342433146ed5b40c6f210f7
Trade closed: target reached
TP3 reached with +18.41% and +4.6R🎯Paxos Gold pushed higher and broke-out of the descending channel hitting final target with up to +92.05% (5x)
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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.
Related publications
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.