TRX is one of the coins I've been trading but haven't been able to chart because Binance. Thanks TradingView!
This was McAfee's last call before he stopped doing Coin of the Day and got "hacked". As you can see, it didn't do much.
This coin has skyrocketed from under a cent to where we are now.
It may have some fundamental value and it may not in a sea of altcoins all promising the world and huge innovation, but, in any event, we're looking at a larger on TRX and it gives us an opportunity to make a trade.
Entry: 235-245 Sats
Target: 355-365 Sats
STOP: 210 Sats
Target is based on the .786 fib of the most recent move measured from breakout to the top, which conveniently converges with where the ramp/mean/trendline from the breakout was broken.
Stop on this trade should be tight as a break downwards is likely to indicate correction and confirm downtrend.
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Often these patterns leave price to "float" sideways through the triangle and drift upward slowly. We'll see what happens.
I expect this to keep going because it's recovering after the early sell off.
I believe this coin will retest the 350 area however. If it can break through it may Verge.
This may indicate market makers are distributing their holdings, which could signal downward movement.
Profits should be taken in the 300-315 sats area and stops should be moved to break even.
After it settles down we'll see if it has more life for a higher run.
Probs does, but we'll see.
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If the only choice is to sell into another ccoin, BTC BHC XPR BNB or whatever then I can't step out of the volitility risk across the sector. In reality I could be stopping out to something that's selling off even faster.
What do you suggest trading into when stopping out of a trade like this.
There's no easy way around this problem in crypto right now.