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PAXG

PAXG/BTC 4h (Binance Spot) Descending channel on support, againI know, I'm trying hard with #PaxGold but I've got that feeling it will be worth it. XAU (true #Gold) is very bullish, not as much as BTC but still, take that as a hedge position if crypto market dips! Current Price= 0.12701 Buy Entry= 0.12535 - 0.12161 Take Profit= 0.13208 | 0.13858 | 0.14987 Stop Loss= 0.11488 Risk/Reward= 1:1.2 | 1:1.76 | 1:3.07 Expected Profit= +6.96% | +12.23% | +21.37% Possible Loss= -6.96% Fib. Retracement= 0.236 | 0.382 | 0.618 Margin Leverage= 1x Estimated Gain-time= 360h
Long
by TradingOn
PAXG/BTC 12h (Binance Spot) Descending channel on support#PaxGold is a digital asset where one token is backed by one fine troy ounce of gold bar. Right now price is holding on parallel channel support, I believe it's a great opportunity to hedge some Bitcoin after such bull run! Current Price= 0.14543 Buy Entry= 0.14300 - 0.14628 Take Profit= 0.15235 | 0.16302 | 0.16798 Stop Loss= 0.13693 Risk/Reward= 1:1 | 1:2.38 | 1:3.03 Expected Profit= +5.33% | +12.71% | +16.14% Possible Loss= -5.33% Fib. Retracement= 0.236 | 0.5 | 0.618 Margin Leverage= 1x Estimated Gain-time= 720h PS: Fibonacci 0.786 at 0.17576 BTC with R/R= 1:4 would be an even better last target if you're up to it...
Long
by TradingOn
BTC/PAXG Binance listing, BTC cliff fall or fly?With BTC to be listed for trading against PAXG on Binance at 12pm UTC today, shall she fall off the cliff? or shall she fly? (apologies about the noisy chart.. its what i have been actively trading with) All in all, im of the opinion that it shall be interesting to observe the PRICE ACTION, whether any movement happens or not... Once BTC (referred to by some as digital gold) goes up for trading against PAXG (actual digital gold, redeemable for physical gold bullion) on the world largest crypto exchange, i see this as a rather MONUMENTAL day. all the best to you all, BIG LOVE!!!!
by cryptographer69
1
Exchange for Physical gold trade blew up - crypto had an answerLast month as a result of the Covid-19 lockdowns, the physical gold market was in such significant lock down that the basis between physical gold and paper gold (E.g. CME gold futures) blew out to black swan levels, costing numerous trading houses billions. This was because through the EFP trade these trading departments are short CME and long physical. The fair basis was around $8 USD but popped out to over $60 on numerous spikes. So the problem was the inability to access the physical gold market, but there were in fact two ways in which to get long physical gold at that time. The two solutions were Paxos Gold (traded on Kraken) and Perth Mint Gold Token (traded on KuCoin). Both these gold tokens that are directly convertible into the same form of gold that's traded in the institutional gold market - London Good Deliver Bars (LGDB). The simple play was to buy PaxG or PMGT and sell the inflated gold futures contract and then wait for the spread to come in. Of course one could have redeemed the token for physical gold and delivered that gold into the CME contract, but the first option is far cleaner and has more edge in it after fees.
COMEX_MINI:MGCM2020
by JK57