This is an update on my below linked studies of Tron.
Yesterday we broke through the 4h Ichimoku which means it is cloudy today. The cloud that could have lifted us out of the descending triangle now became overhead resistance. Not only that but Tron also fell through the 50 EMA which now became another level of resistance. I have drawn a Gann fan in line with the blue trend-line (refer to prior analysis or comments on chart to learn about it's origin). As can be seen we are now trading in the sky-blue zone of the fan, one level lower would be the purple zone which EXACTLY coincides with the tip of the descending triangle.
As mentioned in my original post we need the descending triangle to be broken to the upside after which ideally we would like the 50 EMA to surpass the 200 EMA AND and Tron to surpass the blue trend-line AND 0.382 fib level.
This is a study of Tron, don't use as financial advice.
Yesterday we broke through the 4h Ichimoku which means it is cloudy today. The cloud that could have lifted us out of the descending triangle now became overhead resistance. Not only that but Tron also fell through the 50 EMA which now became another level of resistance. I have drawn a Gann fan in line with the blue trend-line (refer to prior analysis or comments on chart to learn about it's origin). As can be seen we are now trading in the sky-blue zone of the fan, one level lower would be the purple zone which EXACTLY coincides with the tip of the descending triangle.
As mentioned in my original post we need the descending triangle to be broken to the upside after which ideally we would like the 50 EMA to surpass the 200 EMA AND and Tron to surpass the blue trend-line AND 0.382 fib level.
This is a study of Tron, don't use as financial advice.
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