Tron (TRX) Possible breakout, also possible harmonic.
Updated
Tron has always been one of my favourite coins to trade due to its very easy to predict movement. Currently I believe Tron will have a drop as it hit the white trendline. However, due to the fact that we have quickly pushed back up after the retest means Tron is still pretty bullish, so this could be the breakout we have been waiting for since 3 months ago.
I believe shorting Tron with a stop loss around 350 is a good play. I am still hesitant about this trade and am waiting for confirmation.
If I were to take this trade:
Entry:
345 satoshi area
Stop loss:
350-57 satoshi area (depends on your risk tolerance)
Take profit:
290 satoshi area. Keep in mind this price will likely not be hit.
Thanks for viewing! If you wish to know where you can short Tron, I will message you privately. Feel free to comment. I will respond to all of them.
I believe shorting Tron with a stop loss around 350 is a good play. I am still hesitant about this trade and am waiting for confirmation.
If I were to take this trade:
Entry:
345 satoshi area
Stop loss:
350-57 satoshi area (depends on your risk tolerance)
Take profit:
290 satoshi area. Keep in mind this price will likely not be hit.
Thanks for viewing! If you wish to know where you can short Tron, I will message you privately. Feel free to comment. I will respond to all of them.
Note
I expect it to just slowly decline with the trendline until Bitcoin breaks out.
After Bitcoin hits 6.6-7.1k we may short Tron. This will give us a very good entry.
For now I am considering going long, it has been quite strong.
Note
I am not in any position right now, but if you short Tron, 317 could be support.
Note
Looks like the expected drop happened.
Related publications
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.