amutt
Long

TRX BTC Planning a Long Play

BITFINEX:TRXBTC   TRON / Bitcoin
Looking at some charts and TRX seems to have nice structure. This looks like an abc retrace, you can see on the left hand fib that it came up hit the 50 so will most likely hit the target area which you see on the right hand fib it ends up around the 78%. I have an alert set there at 625 and will look then on a lower timeframe, maybe 30 minutes for divergence on the oscillators, atleast two of them with a bit of luck all 3.

What I would expect is a pullback up to at-least 750 area, that would be the bearish scenario. If it goes bullish it could push to 1000. Either way I think it will be a nice play should it make the bounce around 600. Need to see divergence to play though.

Can be played with margin @ https://www.bitmex.com/register/FGkrGW > 5x would be safe, 10x more risk but if it was to play out either scenario it would be 25% x 5 or 10 but hopefully 65% x 5 or 10. Margin trading is very risky never go all in and don't be afraid to stop out its always better than getting liquidated dont believe me check this out > http://antiliquidation.com/

Will update the the alert pops, if it goes from where it is now its a no play for me, not spending the weekend watching it.

Comment: Its adding the wrong link wanted to link to this site, mess around with it http://antiliquidation.com/
Comment: Well it is kind of here now. You can see divergence on 2 of the 3, the rsi is not showing it but pretty oversold. If playing just the alt around here should be safe enough with a SL.



The bitmex chart is a bit different and messier more choppy. But same thing applies. I have a buy set at 593 and going to do a stop around 580, might be being greedy but I dont want to sit and look at this for hours, so easily done! Will do that for now and check back in a bit see does it get filled.

Comment: So my thoughts are on this chart, should it reverse from the fib area that would be the C wave I think and we wont see the high, but who knows, I am hoping for the bullish side and we see around 1000.



Bitmex one is a bit different, it is futures but same things apply.

Comment: We kinda still okay. Cant lose now put the stop over the buyin.

Comment: Bull



Bear



I hope ;)
Trade closed manually: Im going to be looking for shorts on this over the next day or so. It seems to be reaching out to an end before a pullback. Because it is futures it might spike big to knock out stops, Im looking at the 710 area to enter on a lower timeframe.

Comment: 850 area for normal vs BTC.

Comment: Last post on this one, kinda end game. Looking for the short. I think around 725-740 for the margin.



I think around 900 - 1000 for normal, sell your shit above 900 is a good thing.

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