Tron – fireworks or busted flush?
Updated
Hello,
TRX is at a key-level at the moment, I think. Either the bulls break through the wall at 0.023/0.025 or the bears take over to drop TRX down to 0.005 as a final sell-off, or to kill it totally. If the bulls win, it will not be easy because there’s much resistance waiting at the upside for the bulls (blue levels in the chart).
In Elliott-wave-Speech…
We have seen a huge complex correction starting at the end of superordinate wave 1 at all-time-high (the correction is marked with abc in the chart). Now we are in the last wave, wave c of corrective wave 2 (blue in brackets). Wave c is a 5-wave down. So, we are in wave 5 of c of 2 to be precise.
Scenario 1 (green line)
The bulls will fight the bears down and hit through the blue trend channel. If that happens, we have to check how strong the uptrend will be, impulsive or corrective. And have to look out for an entry point then (the next 1-2 wave setup will make it).
Scenario 2 (red line)
The bulls will lose the battle of 0.023/0.025. TRX will drop down to earth – nearly (0.0075/0.0050). If that happens Tron may even never come back again. But: Also possible: we will see an epic turn around searching for new highs!
It remains exciting!
Please leave a comment or a message, if you have any questions!
If you have any other ideas, please leave a comment here!
Take care
tgo
TRX is at a key-level at the moment, I think. Either the bulls break through the wall at 0.023/0.025 or the bears take over to drop TRX down to 0.005 as a final sell-off, or to kill it totally. If the bulls win, it will not be easy because there’s much resistance waiting at the upside for the bulls (blue levels in the chart).
In Elliott-wave-Speech…
We have seen a huge complex correction starting at the end of superordinate wave 1 at all-time-high (the correction is marked with abc in the chart). Now we are in the last wave, wave c of corrective wave 2 (blue in brackets). Wave c is a 5-wave down. So, we are in wave 5 of c of 2 to be precise.
Scenario 1 (green line)
The bulls will fight the bears down and hit through the blue trend channel. If that happens, we have to check how strong the uptrend will be, impulsive or corrective. And have to look out for an entry point then (the next 1-2 wave setup will make it).
Scenario 2 (red line)
The bulls will lose the battle of 0.023/0.025. TRX will drop down to earth – nearly (0.0075/0.0050). If that happens Tron may even never come back again. But: Also possible: we will see an epic turn around searching for new highs!
It remains exciting!
Please leave a comment or a message, if you have any questions!
If you have any other ideas, please leave a comment here!
Take care
tgo
Trade active
Hello everyone,seems to be the green line ;-)
Take care,
tgo
HK-Capital-Management
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