TRON TRX/BTC Analysis As requested by many!
Updated
TRXBTC 60 M Chart has finally hit and interesting spot where we can look to take a position and make some money from this new coin. You will note on the chart that we hit a resistance level on Feb 10th and have been heading down ever since. Today we have the 50EMA (Red Line) Crossing below the 200EMA (Green line) which confirms current direction down for us.
Need to be careful in this one as I have falling volume and potentially choppy movements from a low liquidity market. A rise in volume would have be trade with more confidence.
The first trade is a sell or Short
I think 0.00000473 is the obvious target for our move down and I will sell any rally where price moves up and hits a resistance level. The best case is price to go up and hit the 20 EMA or Blue line. If it does I will sell it and aim to get down and buy it back at 0.00000473 (Yellow Arrows)
The second Trade is a buy or Long
When price hits 0.00000473, I will look for a bounce. If I get a bounce and a pullback to a higher low (Orange arrows), I will buy it and have a run at the recent top.
Always remember if you want to make dollars your decisions need to make sense. The first trade down here is likely to be slow moving, the second trade could easily be a 10-1 trade. Keep your risk low on them, and be sure you have good entry signals.
Feel free to follow, so far I will only be posting 1 more trade today but it could be quite profitable.
Need to be careful in this one as I have falling volume and potentially choppy movements from a low liquidity market. A rise in volume would have be trade with more confidence.
The first trade is a sell or Short
I think 0.00000473 is the obvious target for our move down and I will sell any rally where price moves up and hits a resistance level. The best case is price to go up and hit the 20 EMA or Blue line. If it does I will sell it and aim to get down and buy it back at 0.00000473 (Yellow Arrows)
The second Trade is a buy or Long
When price hits 0.00000473, I will look for a bounce. If I get a bounce and a pullback to a higher low (Orange arrows), I will buy it and have a run at the recent top.
Always remember if you want to make dollars your decisions need to make sense. The first trade down here is likely to be slow moving, the second trade could easily be a 10-1 trade. Keep your risk low on them, and be sure you have good entry signals.
Feel free to follow, so far I will only be posting 1 more trade today but it could be quite profitable.
Trade active
The first trade is a sell or Short I think 0.00000473 is the obvious target for our move down and I will sell any rally where price moves up and hits a resistance level . The best case is price to go up and hit the 20 EMA or Blue line. If it does I will sell it and aim to get down and buy it back at 0.00000473 (Yellow Arrows)
The above first has already been successful if you shorted and bought back in you have done well.
The second Trade is a buy or Long
When price hits 0.00000473, I will look for a bounce. If I get a bounce and a pullback to a higher low (Orange arrows), I will buy it and have a run at the recent top.
The above second trade is also now active and can be a lovely winner.
Note
The second trade is for the aggressive trader.Note
We could currently putting in our first higher Low (Sort of) , following our first Higher high. This is a great place to enter long. I will post a new trade in the next 30 minutesNote
This has not set up as i hopedNote
This did set up a little latter and is going along nicelyNote
If you took the latter trade it is still going along nicely
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