Tronix - Who Needs McAffee Pump and Dumps?
Updated
(Trade this coin on Binance in my signature below)(And check out the cute bulls in the apparel shop)
TRX is one of the coins I've been trading but haven't been able to chart because Binance. Thanks TradingView!
This was McAfee's last call before he stopped doing Coin of the Day and got "hacked". As you can see, it didn't do much.
This coin has skyrocketed from under a cent to where we are now.
It may have some fundamental value and it may not in a sea of altcoins all promising the world and huge innovation, but, in any event, we're looking at a larger descending triangle on TRX and it gives us an opportunity to make a trade.
LONG
Entry: 235-245 Sats
Target: 355-365 Sats
STOP: 210 Sats
Target is based on the .786 fib of the most recent move measured from breakout to the top, which conveniently converges with where the ramp/mean/trendline from the breakout was broken.
Stop on this trade should be tight as a break downwards is likely to indicate correction and confirm downtrend.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
TRX is one of the coins I've been trading but haven't been able to chart because Binance. Thanks TradingView!
This was McAfee's last call before he stopped doing Coin of the Day and got "hacked". As you can see, it didn't do much.
This coin has skyrocketed from under a cent to where we are now.
It may have some fundamental value and it may not in a sea of altcoins all promising the world and huge innovation, but, in any event, we're looking at a larger descending triangle on TRX and it gives us an opportunity to make a trade.
LONG
Entry: 235-245 Sats
Target: 355-365 Sats
STOP: 210 Sats
Target is based on the .786 fib of the most recent move measured from breakout to the top, which conveniently converges with where the ramp/mean/trendline from the breakout was broken.
Stop on this trade should be tight as a break downwards is likely to indicate correction and confirm downtrend.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
Note
Tronix is still within the parameters of this trade. It's been hanging out on the top side of the triangle trend line for a while but hasn't dumped. Often these patterns leave price to "float" sideways through the triangle and drift upward slowly. We'll see what happens.
Note
8 minutes until an hourly candle closes outside the trendlineNote
And there we go. I expect this to keep going because it's recovering after the early sell off.
Note
If you're looking to get into this trade on pullback, here's where I'm looking I believe this coin will retest the 350 area however. If it can break through it may Verge.
Note
Another run back over 300 sats. Let's see if it can push through this time. Note
Right now looking at the volume on the 6H candles I have some concerns that it's been high without price being able to break over 300 sats and the 0.618 fib at 310 convincingly. This may indicate market makers are distributing their holdings, which could signal downward movement.
Profits should be taken in the 300-315 sats area and stops should be moved to break even.
Note
Trade closed: target reached
Pushed through and hit target after all. Although this can go higher, I've still closed 100% of this trade and will re-evaluate later. Note
Pullback like this is exactly why I picked this target and closed here. After it settles down we'll see if it has more life for a higher run.
Probs does, but we'll see.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.