On the daily chart we are forming lower lows and lower highs. We still in a bearish market? How ever it will be, many will get caught on the wrong side of the market.
1. On the daily we got rejected by multiple trendlines and MAs plus the stochastic cycle is soon done and ready to go down.
2. From the eliott wave point of view we would still have some possible...
We are currently sitting on a strong support area. But also we are sitting on a strong bull trap in overall stock market, so my feeling is that we will see more downtrend and within the next weeks / months we will hit under 30 USD mark for IRBT. Boxed area is what I am looking for to start filling my positions. In "worst" case we can even break the downtrend support.
Chart is quite self explained.. So our TA analysis worked out quite well. Congrats to those who took positions before the run up. I made a personal mistake not to jump in at 770 area, but you live and you learn.. It was the greed for me which failed that for me. I jumped in around 825.. Still good position though.
TRX Seems to be respecting the wedge/pennant pattern we have here. The first smaller penant broke down and TRX is in bigger wedge / pennant now. Yesterday TRX went down and I was hoping that we would've broke the pennant for lower values, but TRX respected the 4 hour RSI and made run up. So congratz to those who took this position and made their sells.. I was too...
We are in a situation where it is hard to set entry points. On the daily RSI TRX is all ready turning slowly to the upside move, but on 4hour chart I feel we are going to test the 200-day ema. As we can also see, we are still inside the bearish wedge. Same is for BTC which also will affect this market.
I would keep close eye on this market, especially next week....
TRX seems to hold quite nicely on the 884 area and is inside a wedge. RSI in daily chart is almost finished cooling off. We might still go down, but looking at RSI on daily and the wedge, I feel we will go up. I will at least wait for proper confirmation and wait that does TRX break the wedge up or down.
In my opinion Tron is set to cool off a little bit. Tron is overbought on RSI, Stoch RSI and MACD are going down. My target for Trx is 670-700, can go even lower than that if the support does not hold. Anything can happen though in these markets.
This is for educational purpose only, not financial advice.