symmetryfx
Long

Break above Daily Descending Trend Line - Bullish

BITFINEX:TRXUSD   TRON / Dollar
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Break above Daily Descending Trend Line - Bullish

Smaller market cap Altcoin -> Moon run coming soon
Comment: Very solid 4 hour (4H) close just now. Buyers in the market.
Comment: Weekly candle close (tomorrow) could Bullish Engulf nicely
Comment: Big move upward so far today. 2 hours until the Weekly candle close.
Comment: Wow. 30mns to the Weekly/Daily candle close. We're mooning hard right now.
Comment: Beautiful Daily candle close and Weekly Bullish Engulfing candlestick printed
Comment: Current Daily Candlestick is showing consolidation at the Outer Daily Trend Line Resistance. On lower timeframes we would see a consolidation -> continuation move that will take us higher up to the 0.04 region
Comment: Adding to my position right now. BTC looks very Bullish, possible breakout ahead which will kick Altcoins into gear. Comfortable margin.

Multiple orders in profit with first order at 0.2286 (late entry)
Comment: Projection: Previous ATH's were 0.23

-> Easy 2,000% gain from ATH's will take us to roughly 4.60

-> In time, another 2,000% gain from 4.60 range will take us to 92.00

Buckle up and get ready for there future. (Altcoins will Pump hard) This is the beginning of a financial/technological revolution that will unleash the next wave of global industrial/economic expansion. Way more than a currency and price on a chart. A true decentralized monetary system and tokenization of assets that will allow the exchange of value to be liquid and efficient. So many use cases that have not even made their way to implementation yet. Tron will be a great coin with the ambitious ecosystem they're building. Stay tuned.
Do you think it will pull back a bit, and if so, whats a good entry position ?
Reply
@MIKEYT, Price may not retrace too much since the momentum is so strong currently. In breakouts price can move up aggressively without much of a pullback until finally finding some Supply. Both DOGE and XRP which have already broken out strongly have gone up roughly 60% before finding some Supply. Tron's breakout could just be getting started.

Chasing a trade can be dangerous, so if an entry is taken at these levels a stop loss / breathing room to the previous Daily Descending Trend Line around 0.025 would be reasonable. Buyers are in control between the 0.027 and 0.025 range (and Daily Trend Lines) so if price does retrace into that zone - a Bullish Engulfing candlestick pattern on M30 could signal buyers are ready to resume the uptrend.


I'm holding my longs on this pair right now. Watching for EOS to prepare to breakout next.
Reply
MIKEYT symmetryfx
@symmetryfx, I watched it hit .022191 the other day and thought it may go lower so didn't buy, kicking myself now. So is EOS going to do a run ?
Reply
@MIKEYT, EOS has broken M30/1H, H4, and Daily Trend Line Resistance. Market Structure is also bullish, so further continuation to the upside would be expected
Reply
MIKEYT symmetryfx
@symmetryfx, Hi, I was watching EOS after your heads up. Quick question, I noticed that in the frenzy, the sellers were all selling below their asking price at the lower buyers prices....what was that (I assumed a pump and dump...) ??
Reply
@MIKEYT, I don't use Order Flow details in my trading, just Price Action Technical Analysis. The candlesticks on all timeframes will tell you all you need to know about Supply and Demand, who is the dominant force in a region of price, and how the market is flowing.
Reply
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