TRXBTC
TRX will be printing more green candles.TRX Daily Chart was not inspiring me, so I zoomed in a little (actually, H4 is my favorite configuration, but i prefer trading Daily trends). So here TRX is in a bull trend from start of September. It is making Higher Highs and Higher Lows, printing a Rising Channel.
210 sats has been an important Support / Resistance before, so I'm watching the price action here, and as usual, close below = bearish, close above = bullish.
The next support to long is around 180 sats and the lowest support is at 140 sats but I don't think it will reach that price anymore.
TRX/BTCKeep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
If TRX holds the green box range and respects it as support then we can see TRX test previous resistance levels. If you had bought TRX at green box 1 you should have hit your first and second profit target already, and the trade has been very profitable!
TRX has so far touched the second orange box, retraced and now looks like it may do a re-test of the high. If it cant break above the second orange box range it is likely to come down and hit the second green box (2), where we want to see a strong hold for support.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.
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TRXBTC Daily Trend Change | Increase in Bull Volume Hello Traders
Two more months in the year, how time flies…
Today’s chart update will be on TRXBTC, we have a potential daily trend change which is backed up with strong bull volume…
Points to consider,
- Trend is putting in new higher lows
- Resistance at .236 Fibonacci retracement
- Support held by EMA’s (EMA’s Bull Cross)
- Stochastics trading in upper region
- RSI testing its local resistance
- Visible increase in bull volume
TRX has been on the move as of late, changing its overall daily trend with consecutive higher lows as it comes into local resistance. This resistance, the .236 Fibonacci Retracement, is in confluence with structural resistance, a key area that needs to be broken for a continuation.
Support is being held by the EMA’s which does look quite strong after a confirmed bull cross. This cross initially signalled the daily trend change.
The stochastics is currently trading in the upper regions; a healthy retracement in the trend can come to fruition as the stochastics does have a lot of momentum stored to the downside.
The RSI confirmed the bullish divergence, and is now trading in the upper region at local resistance. If this resistance breaks, is can trade in the orange highlighted box for an extended period of time, as history suggests.
Volume has been a great indicator; we have had an increase in bull volume, showing that buyers are strong in this trend change. We need to see this continue for local upper resistances to be tested.
Overall, IMO, TRX has had an impressive trend change with follow through; a healthy correction is not farfetched. This will cool of the stochastics and RSI indicators before another leg up, this will also allow the trend to put in another higher low…
What are your thoughts?
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“You’re going to learn a million things, then you need to forget them all and focus on one.” - SunriseTrader
TRX/BTC - H4 CHARTHi, today we are going to talk about TRX/BTC
We observe a H4, some important points. The details are highlighted above.
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TRON (TRX) - Trade Update @coinselorWell I didn't expect the China news , but I did expect TRX price to sky rocket :)
Tron bounced beautifully off that S/R area around 175. Volume has been consistently high at this resistance area for the last 3 days. In my opinion, volume is one of the most underrated metrics in technical analysis, if price is king, volume is queen.
I am expecting this area (around 240) to become a massively strong S/R level once flipped.
TRX/BTC bearish crabBITMEX:TRXZ19 Possible bearish crab in the making. Great risk to reward. You can long till 260-280. After that short :)