TRON - FALLING WEDGE COMING TO END SOON.!!
Updated
Tron has been moving inside the wedge for too long. It's about time it tries to breakout of it.
The RSI was hovering in the oversold region and now has taken a sharp u-turn to comeback within the channel.
RSI smoothed over EMA(9) has generated a Buy signal on the 4-H TF.
EMA(26) is acting as resistance atm.(See below)
The profit taking target can be 0.236 Fibonacci level. The Risk/Reward ratio is: 4.67 which makes this trade a really great one.
You can wait for it to break the resistance of the wedge before opening any longs.
(I can post the chart with in depth analysis using indicators if people need it, but as for now, this should suffice.)
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Keep an eye out. Trade safely. Always remember, money not lost is also a profit.
Good luck trading.!
Peace.
The RSI was hovering in the oversold region and now has taken a sharp u-turn to comeback within the channel.
RSI smoothed over EMA(9) has generated a Buy signal on the 4-H TF.
EMA(26) is acting as resistance atm.(See below)
The profit taking target can be 0.236 Fibonacci level. The Risk/Reward ratio is: 4.67 which makes this trade a really great one.
You can wait for it to break the resistance of the wedge before opening any longs.
(I can post the chart with in depth analysis using indicators if people need it, but as for now, this should suffice.)
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Keep an eye out. Trade safely. Always remember, money not lost is also a profit.
Good luck trading.!
Peace.
Note
BTC Plummeting due to this and the whole market is taking a hit. Trade with care.There may be some absurd movement in price so watch out.!
1> sec.gov/news/public-statement/peirce-dissent-34-83723
2> sec.gov/rules/other/2018/34-83723.pdf
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
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.