KongTrading
Long

$TRX #TRXZ18 - Breakout soon? - Day Trader Explains

BITMEX:TRXZ18   None
Hello Lads and Ladies,

Lets do some quick TA on Tron today.
Things are starting to bounce and opportunities are here again for some nice but still safely set-up longing positions.
Please take note and always watch the market. BTC dropping 44.77% within 3 weeks is an insane amount without a significant pump. - When BTC pumps, it will also have an impact on all other coins.

So, what are we seeing here on the chart?

I picked the 12h chart to show you something that I use myself a lot but many have still no idea about it and how to use it. It is the RANGE.
To pick the range, we would set horizontal lines at the very top and at the very bottom of the chart.

As you can see right now, we are pretty much at the bottom of this range for Tron.
We are STILL respecting the very strong downtrend.
We are creating higher lows inside of a triangle.
We still did not have a close below 300 sats .
We are forming a bull hammer right now.
We are coming to an end of the triangle with an increasing chance of getting squeezed out.

Why are there two buy zones?
The yellow one is at this moment a good point to set first orders, entries etc. This is area where we have the lowest closes.
The green buy zone is basically an area where we only have had wicks down to, which I see it as the best buy in opportunity and also where you have your staggers.

Summary?
> Ending downtrend
> Bullish 12h close
> Re-Testing Downtrend
> At the bottom if its range
> Entry below 310 is good, below 300 is perfect
> Targeting the middle of the chart range (356)
Please note that this is a 12h chart and requires lower leverage.


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Cheers, TJ
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Comments

L I O N
Reply
This man right here, ladies and gentlemen, is a LION !

As always, thank you TJ. :)
Reply
Lion - awesome, thank you
Reply
!lion
+2 Reply
LION
+1 Reply
LION!!
+1 Reply
Thanks Lion
+1 Reply
TCD shill
+2 Reply
lion
+1 Reply
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