Here we have a Doji, at the bottom of a trend, also found next to a strong support level and with bullish divergence on the MACD and oversold RSI.
"The Doji is an transitional Candlestick formation, signifying equality and/or indecision between bulls and bears. A Doji is quite often found at the bottom and top of trends and thus is considered as a sign of possible reversal of price direction, but the Doji can be viewed as a continuation pattern as well."
The 4H chart is also giving out some early reversal signals.
Tron (TRX) might have found bottom.
Note: This is an educational post. Not trading advice.
Thanks a lot for reading.
Please make sure to like, share, comment and follow for more of these trade ideas.
Your support is always appreciated.
Namaste.
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Tron is trying to move but it needs more momentum. It needs a push from the market.
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TRX still looking for support.
Look for 508 satoshis next. If this level doesn't hold, look for 440 satoshis after that.
I will update again if that level is also broken.
If these levels hold, then we will look for a reversal signal and open a trade from Tron (TRX) after the signal is confirmed.
Thanks a lot for your amazing support.
Namaste.
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Forgot to mention; Look for 508 if we close below 552 on the daily time frame (today's candle).
If Tron closes above this price, then the chances of it going lower are reduced.
Hey Alan, what do you think of my latest post? Curious what a professional thinks ;)
AlanSantana
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@MC_Peewee, I think it looks pretty good. I believe you did a great job.
Keep it up.
Dogeball
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@MC_Peewee, charting looks good, next you need to work on your ideas, start off by stating the obvious..' Looks like were going down', then it's on to picking a number, you say ' If we dont find support at 'insert number here', then it will drop some more, or look out below, then state something else obvious like, We need a push from the market to see any significant movement in ' insert crypto currency here' today. Pick a few previous support levels, ask if this is bottom? Then throw in a bit of ' I'll update later when I it starts breaking out' , and as always this is not financial advice. Master this formula and good times await :)
deactivatedaccount123
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@Dogeball, I use to pump out a LOT of charts that had all the type of info you stated above. I haven't published a chart though in quite a while compared to what I use to so I'm a tad rusty.
Thanks for the feedback though, much appreciated :)