AlexSchram

Short term pullback Long term buy

BITFINEX:TRXUSD   TRON / Dollar
Good evening everyone. I have been studying TRX for us and with our recent bull run in the market we always see days of correction come after. We can clearly see price falling farther back down and breaking out of patterns lower and lower from the impulse. I have identified a possible BAT pattern leading to point D at either 127% or 161.8% . I always like to remind my traders that anything can change in a speculative market and structure can always develop a new IDEA. If this happens we will revisit TRX with another concept if we get another impulse up to .03 cents! I cannot see it at this time but what I do see is a possible head and shoulder heading back down in a complex pattern that I identified with the PURPLE lines. Any spikes up can easily pull right back down and deny. Be on the look out for that. The chart shows resistance at .028 and .027. I will be NOT taking any short positions but I will be on the lookout for a buy from point D at my suggested PRICE ZONES. When I mention ZONES there is no specific price but an area of prices that show strong support or resistance depending on the time-frame we are observing. Good luck traders and I hope you enjoy this idea!

If you decide to take the short.....

Entry @ anytime now
TP1 @ .02 cents and to wait for a solid bearish candle closing below .02519 - .02451 BEFORE YOU ENTER
TP2 @ the lower point D at 161.8% taking price to .016 cents
SL should be above .028
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LONG TERM BULL buy in will be at either point D 1 or point D 2 depending on your risk appetite!!!! I will be buying at POINT D 1 as I am a long term holder of TRX . The development of TRONIX is a 10 year roadmap to 2030. Please understand this and trade with care and understanding of this speculative market as congress and regulators decide how this market will continue to develop!

TP 1 & 2 for BULL will be when we go back up to the resistance points. We will be looking for support to develop below and observe it as it develops.

Entry @ .01600
TP1 @ .0250
TP2 @ .0300
TP3 @ .0350
SL @ .01100

I will be updating and adding fundamentals that go with this shortly! GOOD LUCK TRADERS! and THANK YOU FOR LOOKING AT MY IDEA AND SUPPORTING MY VIEW!
Comment: Short signal hit. Sell continues.
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