PAX Gold (PAXG) is a digital asset. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.
As BTC dumped under 40k, Pax gold could pump if it shows more volume
Trade wisely, and remember that this is not financial advice.
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if you divide paxg by gold (commodity not gld), then you'll notice that there are very tradeable signals. In a perfect world, these would track each other with uncanny precision. That is not the case with this pair. There are times when the relationship is trading in favor of PAXG ie, PAXG is temporarily trading at a premium to the commodity so one could sell...
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This is a great strategy during a long downtrend vs putting your powder on the sidelines. PAXG is backed by gold so it has much lower risk. Doing this at KuCoin is giving me 40% APR for the last couple of months. Your mileage will vary due to entry points, etc. but mostly PAXG goes sideways with plenty of wicks for arbitrage.
- If you want to buy gold on Binance or any other crypto exchange, you can buy PAXG, which seems like a good alternative to traditional ways.
- You don't need a bank account or brokers to speculate on GOLD price - You can buy gold (PAXG) with bitcoin or USDT.
- It is possible to use leverage on FTX with PAXGPERP futures.
- PAXG is practically copying the price of...
This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info
how to study and read charts or just need help with some coin, just write to me here a comment, i will try to answer to everybody...
i can help you :) all for free, don't worry, BE HAPPY!
PAXG price at support zone and now at very good level we can see good bounce in this coin.
Price of paxg cryptocurrency coin has to rise from this support zone else it will become the resistance.
You can risk small amount here with stop loss below wick.
Reverse Head and Shoulders , Cypher .... İf Head and Shoulders will work with a good candle Cypher will try to send the moves to support channel.
İf not cypher will send the prize inside the RH&S . These are all my opinion , lets see what will happen. İt is a daily chart and it will take a few weeks.
As a crypto asset backed by real gold, is it time to put some money in PAXG in case of the upcoming big recession ?
Well to answer that, YES and NO...
1. We don't know when will the recession comes
2. We don't know whether it will come or not (LOL)
But still, it's better to be safe rather to be sorry!!!!
My entry price point would probably be in the fibonacci...