TRX/BTC - Bull Idea: 80%-100% profit in 2-3 weeks
Looking at TRX on the 1 Day chart, it looks primed for a break out, mini-bull run. Here's what I'll be watching out for during this trade:
ENTRY: 305 - 350 satoshis
MY ENTRY: 310 satoshis (Full Disclosure)
STOP LOSS: 310 satoshis
BREAK-OUT ZONE: 365 - 380 satoshis
Tron must break the red square resistance zone to confirm a new trajectory towards the profit levels. If you're conservative, consider either entering after 375-380 is broken (and sustained), or wait for a retest of the yellow local support zone. If this zone is broken and you're already long, consider short selling and waiting for a retrace to either the next yellow zone or significant, sustained buy volume.
TARGET 1: 430 - 450 satoshis
First target is here. Consider the possibility of a retrace back to 380 - 400 levels for consolidation. I will be selling 20% of my position here.
TARGET 2: 490 - 515 satoshis
Second target. This is my PRIMARY target. I can see TRX running up all the way to our next target, but this is where I'll be taking a closer analysis at price action to determine if I stay in the position. I'd be happy to exit up to 50% of my position here and buy back some on a retrace. Will update if I get enough likes on this chart.
TARGET 3: 590 - 620 satoshis
Third and final target. This is the range where I'll be looking to close the position at a solid 100% profit from my entry at 310 satoshis.
If another trading opportunity emerges, I will chart it out and evaluate it as a separate trade altogether.
You must always consider how much profit traders have already made when thinking about entering or keeping a position. If traders have already made 100% profit, chances are there will be some kind of retrace as they start to take profits. Sure, another opportunity may emerge, but that opportunity will most likely not be from a continuation of the previous trade, but rather an entirely new trade with different wave dynamics.
Please trade cautiously, only risk what you are willing to lose!
ENTRY: 305 - 350 satoshis
MY ENTRY: 310 satoshis (Full Disclosure)
STOP LOSS: 310 satoshis
BREAK-OUT ZONE: 365 - 380 satoshis
Tron must break the red square resistance zone to confirm a new trajectory towards the profit levels. If you're conservative, consider either entering after 375-380 is broken (and sustained), or wait for a retest of the yellow local support zone. If this zone is broken and you're already long, consider short selling and waiting for a retrace to either the next yellow zone or significant, sustained buy volume.
TARGET 1: 430 - 450 satoshis
First target is here. Consider the possibility of a retrace back to 380 - 400 levels for consolidation. I will be selling 20% of my position here.
TARGET 2: 490 - 515 satoshis
Second target. This is my PRIMARY target. I can see TRX running up all the way to our next target, but this is where I'll be taking a closer analysis at price action to determine if I stay in the position. I'd be happy to exit up to 50% of my position here and buy back some on a retrace. Will update if I get enough likes on this chart.
TARGET 3: 590 - 620 satoshis
Third and final target. This is the range where I'll be looking to close the position at a solid 100% profit from my entry at 310 satoshis.
If another trading opportunity emerges, I will chart it out and evaluate it as a separate trade altogether.
You must always consider how much profit traders have already made when thinking about entering or keeping a position. If traders have already made 100% profit, chances are there will be some kind of retrace as they start to take profits. Sure, another opportunity may emerge, but that opportunity will most likely not be from a continuation of the previous trade, but rather an entirely new trade with different wave dynamics.
Please trade cautiously, only risk what you are willing to lose!
Comment:
Could see a retest of 320 - 335 area as local support in case of retrace
Comment:
But I think that is an unlikely scenario. Point being I'm not exiting unless strong support broken
Comment:
It's hard to see, but if you look at the chart the black line I drew goes up to 400 sats and then back down to retest support.
This is where I believe we are at right now. As long as we do not break through the 350-360 support range we should be fine.
However, BTC is always worth keeping an eye on. If BTC drops, the alts will drop...
This is where I believe we are at right now. As long as we do not break through the 350-360 support range we should be fine.
However, BTC is always worth keeping an eye on. If BTC drops, the alts will drop...
Comment:
Local support still holding. I think we are in consolidation for another leg up to re-test 390-400
Comment:
We are now retesting the resistance that we failed at around this time last month
Comment:
Base support range held up pretty well! Bullish :)
Comment:
We are currently stuck right in the middle of a strong support and strong resistance. Will let the market decide!