Hello everyone! I am a totally noob and self-taught trader. I am learning everyday and I would want to share my thoughs about Tron.
Here you can see our friend in 15m. A lot of lines and waves, but today I want to talk about waves:
-The enormous breakout from 595 s. to 829 s. In this time resolution you can see easily the 1-5 impulse waves jumping between Fibonacci levels, and fitting pretty well.
-Once found the top the price felt down drawing A wave, the B correction and found bottom at exactly 710 s. matching .5 FIbonacci.
-When price was falling down we had one eye looking RSI 14 entering in oversold area (70), and the other eye looking for a crossover in MACD, we have two confirmations and a lot of waves before telling us what's happening. We can go long.
-Another rally until the top always looking waves, price action, volume, MACD and RSI. When RSI enter in ovebought area and we can see weakness and lose of mometum when can take our profits after a nice rally (110 pips).
After this hight we have seen a really sexy triangle formation and this is a pattern, personally I prefer don't enter this trade because after a little triangle breakout bulls are losing momentum, I can see RSI bouncing right now so I think that this is a little wave 1 starting a rally until 829 (you can follow little fib schema on top right corner), then I expect the final breakdown that will reset this stuff even in 1D chart, so can start the biggest bull run with the other altcoins, bitcoin and ethereum.
Note that volume has a descendant trajectory, so there are an accumulation ready to explode when will the moment.
You will see a little bit more red this days, but don't worry, this is only the begining. I really belieeve that we are developing the next industrial revolution, this will transform everything.
Now please tell me what you think! Peace.
Here you can see our friend in 15m. A lot of lines and waves, but today I want to talk about waves:
-The enormous breakout from 595 s. to 829 s. In this time resolution you can see easily the 1-5 impulse waves jumping between Fibonacci levels, and fitting pretty well.
-Once found the top the price felt down drawing A wave, the B correction and found bottom at exactly 710 s. matching .5 FIbonacci.
-When price was falling down we had one eye looking RSI 14 entering in oversold area (70), and the other eye looking for a crossover in MACD, we have two confirmations and a lot of waves before telling us what's happening. We can go long.
-Another rally until the top always looking waves, price action, volume, MACD and RSI. When RSI enter in ovebought area and we can see weakness and lose of mometum when can take our profits after a nice rally (110 pips).
After this hight we have seen a really sexy triangle formation and this is a pattern, personally I prefer don't enter this trade because after a little triangle breakout bulls are losing momentum, I can see RSI bouncing right now so I think that this is a little wave 1 starting a rally until 829 (you can follow little fib schema on top right corner), then I expect the final breakdown that will reset this stuff even in 1D chart, so can start the biggest bull run with the other altcoins, bitcoin and ethereum.
Note that volume has a descendant trajectory, so there are an accumulation ready to explode when will the moment.
You will see a little bit more red this days, but don't worry, this is only the begining. I really belieeve that we are developing the next industrial revolution, this will transform everything.
Now please tell me what you think! Peace.
Comment:
And here you can see my INexperience. I drew too short waves, target remains the same but at this moment bulls are losing momentum, we expect a retracement to .236, this third waves was very small.
Comment:
Here Tron in 4H, look the RSI and MACD both pointing down pretty bearish. I expect one more run to 800 and then finish this wave 5 with an ABC correction. I'll rebuy and reload when touch the bottom.
Comment:
Here we can see Tron in 5m, as you can see we are in a ABC correction, I expect that Tron will test again the triangle, we need to pay attention right know because we can see a breakdown. Is triangle hold the price we will pay attention at the roof of the triangle looking for a breakout or another wave down.
Personally I think that we will se a breakdown during today, RSI is overbought daily and in 4H. Be careful, bulls and bears are dangerous!
Personally I think that we will se a breakdown during today, RSI is overbought daily and in 4H. Be careful, bulls and bears are dangerous!
Comment:
Please look this chart in 4H. We can see the triangle in black, but ans you can see there are a lot of noise and indecisiveness, these candles have very big tails.
If we draw our lines from the bodies of the candles a rising wedge appears, and this pattern is bearish.
Just now remains 20 minutes to close 4H candle, I expect movement now, we'll se the direction. I will take a decision when next candle close, but indicators are telling us that next movement will be bearish so probably I'll short Tron at 765.
Volume is in accumulation so I expect a big movement.
Take your decisions and follow the action of the price.
If we draw our lines from the bodies of the candles a rising wedge appears, and this pattern is bearish.
Just now remains 20 minutes to close 4H candle, I expect movement now, we'll se the direction. I will take a decision when next candle close, but indicators are telling us that next movement will be bearish so probably I'll short Tron at 765.
Volume is in accumulation so I expect a big movement.
Take your decisions and follow the action of the price.
Comment:
Here you can see that rising wedge appears to be valid, price rejected just at the red line (candle bodies from 4H). Let's see what happens next.