I've been keeping an eye on TRX for the last few days as it's been in a falling wedge pattern for quite some time.
The RSI is starting to tick upwards that coincides with a possible last wave down. Interestingly, there is a cup and handle pattern on the 1 hour chart that i'll be watching closely for a LONG position.
Initial target is the 38.2% Fib of the highs from the beginning of the falling wedge pattern if it can break out of the wedge pattern.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
The RSI is starting to tick upwards that coincides with a possible last wave down. Interestingly, there is a cup and handle pattern on the 1 hour chart that i'll be watching closely for a LONG position.
Initial target is the 38.2% Fib of the highs from the beginning of the falling wedge pattern if it can break out of the wedge pattern.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Comment:
Re-test of the channel and looks to being respected as resistance. For me, a break above the last daily candle will be the entry point for a long. If it falls, wait for a reversal setup (e.g head and shoulder)
Comment:
Still watching for a pump, reversal patterns appearing on STF
Comment:
Getting close to the upper trend line. Looking prime for a breakout. Stay tuned:
