Looking with EW eyes. It's almost impossible to count any waves from the recent top. A bounce here at 2.60 could be setting up an a-b-c- Elliott wave. The b-wave would then create a bear flag before the c wave heading lower. This lower low would then be under the shs target zone at the 1.70 area ( within harmonic pattern terminology it would be a A-B-C-D). Here a capitulation could end and we could see a quick intraday snap back to the 2.00 support line - creating a hammer candlestick. The bottom would be in. But it's only guessing right now. Let's see some more price action and make sure of the bear before selling his skin.
Just like that $2.36 to $2.51, long buy tail support. I tried to buy at $2.36, was not filled and was only there for 1 minute, if that. I think that was the low, thats usually how it works....i never get filled and the price is there for a NY minute.
Interesting level here at 2,41 I agree!. Gold have made a perfect 61,8 retrace and setting a possible bottom, but I'll wait to see a conformation on a double bottom here. If gold move lover we might see the 1,27 retrace of TRX. But eyes open here!
Yes...but I think the banksters are setting up for a US debt default and having gold miners squeezed to a minimum and going then long ...would be a goldmine. TRX could also be setting up for a huge IHS with a neckline around 4$. Head around 2 and target at 8$...wow! Fib time would be 13 days...so 3 more to go.
Looking at TRX from a daily view. A support line is here going back to may 2013. It is a very interesting area here...but i'll still wait for the conformation of a double bottom...but tempted to buy...for sure.
Yes I agree! It looks like it found a bottom here. The price action this morning does also agree with you :) Let's see if it will be a 4th wave up or it will continue up from here due to the many days it felt and create a short squeeze.
A double bottom could still be a possibility. I haven't bought it yet. I think it needs to prove it self over a week at least. I usually explain it with ....ma's need to come down in the area for it to be able not to have resistance above... (Ma's of different time coming down to level).
We are just at or above buy zone so have bought my first portion shares. I see 2,02 as theeee shs target but if everything tumbles - a complete capitulation at 1,56 could come in play. and create a triple bottom.
It more and more looks like TRX finally have found it's bottom 0,03 points above my shs and fib target. Nothing is for sure yet but are we having a follow through tomorrow ...I will only be looking for that this could be a wave 4 up in the EW terminology. ( Will look at the count later this week)