$PAXG/BTC 3D (#BinanceMargin) Ascending channel on resistance
Updated
PaxosGold just printed an Evening star on Higher TF, which is a strong bearish reversal pattern.
A retracement really seems due, let's try again to swing without leverage this time!
Current Price= 0.08750
Sell Entry = 0.08967 - 0.09821
Take Profit= 0.0712 | 0.05744 | 0.04175
Stop Loss= 0.11136
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +22.16% | +38.85% | +55.56%
Possible Loss= -18.54%
Fib. Retracement=0.382 | 0.618 | 1
Margin Leverage= 1x
Estimated Gain-time= 5-6 months
Website: paxos.com/paxgold
A retracement really seems due, let's try again to swing without leverage this time!
Current Price= 0.08750
Sell Entry = 0.08967 - 0.09821
Take Profit= 0.0712 | 0.05744 | 0.04175
Stop Loss= 0.11136
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +22.16% | +38.85% | +55.56%
Possible Loss= -18.54%
Fib. Retracement=0.382 | 0.618 | 1
Margin Leverage= 1x
Estimated Gain-time= 5-6 months
Website: paxos.com/paxgold
Trade active
2/3 entries filledPaxosGold is pushing higher and seems to be rejected on upper-line again, scenario is in play.
Trade closed: target reached
TP1 reached with +22.16% and +1.2RPaxos Gold reversed against Bitcoin as planned and nicely went for first target, let's hope it continues following the arrow!
Note
Back to supply zonePaxosGold bounced on 50MA and went retesting the resistance, bearish scenario remains intact though.
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