Tron (TRX) Final chance for breakout before drop to 430 levels.
As much as I would love for TRX to act out on the B-886 pattern and have a reversal, we seem to have strong resistance each time we approach the trendline. This, combined with the bearish BTC market, means that the chance of breaking down is going to be pretty high. We are in a downward trend so predicting the bottom can be quite risky.
However, we are getting into the oversold territory on the daily, and on the four hour chart we have a very strong bullish divergence. I tend to trade all strong bull divs, therefore I will be entering this trade.
Buy in price:
507-524
Stop loss:
499
This is a risky trade, but it is very tempting, and the stop is very close to my buy in, therefore I am perfectly fine with entering. Should have a breakup or breakdown in the next 30 hours.
If you want to trade the breakout, wait for TRX to cross the white trendline, then form a bull flag at the very least. We have had 2 false breakouts so far.
Thanks for viewing! Please leave any suggestions/criticisms in the box below.
However, we are getting into the oversold territory on the daily, and on the four hour chart we have a very strong bullish divergence. I tend to trade all strong bull divs, therefore I will be entering this trade.
Buy in price:
507-524
Stop loss:
499
This is a risky trade, but it is very tempting, and the stop is very close to my buy in, therefore I am perfectly fine with entering. Should have a breakup or breakdown in the next 30 hours.
If you want to trade the breakout, wait for TRX to cross the white trendline, then form a bull flag at the very least. We have had 2 false breakouts so far.
Thanks for viewing! Please leave any suggestions/criticisms in the box below.
Comment:
3.8% profit in 2 candlesticks.
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Comment:
Gonna hope it holds the white line.
Comment:
Perfect call
Perfect call
