Trading PaxGold (PAXG) during uncertainty risk level Medium

ERC-20 : 0x45804880De22913dAFE09f4980848ECE6EcbAf78 Investment: 1ETH in PAXG Risk: Medium Horizon: 4-6 weeks Exit Strategy:S/L => -5% below the EMA-9 on daily chart (which is currently around 1870)

The idea is based on the Geo-political tensions, we should invest a little into Gold using PaxGold (PAXG) as a hedge in case things goes south. due to short and midterm uncertainty but also medium and long term inflation. This double effect can push the cryptocurrency market and equities lower.

TA: Based on XAUUSD and backtested using the CFD contract: https://www.tradingview.com/chart/tlRhZg3X/

Daily and 4h structure are bullish, volume are increasing, Rsi in bullish territory. We broke the bearish structure that keept gold bearish for approximately 500 days, the last resistance has been broke today at around 1916$. Currently, at 1H chart, we can see that the Rsi is in overbought region which means that a retest of the last resistance might occur soon.

The trading strategy would be: Entry : 1900-1916 TP:2000(+-2%) S/L :-5% below the EMA-9 on daily chart (which is currently around 1870) Holding: 4-8 weeks.

For more information: https://coinmarketcap.com/currencies/pax-gold/