TRON PA is a thing of beauty
Updated
TRON's PA is a thing of beauty. The HLs in HTF on the ascending triangle are aesthetically perfect. Price has been on the rise for a little less than two years. Sooner or later the god candles will print out.
Note
Looking good but the Godcandles haven't even started yet!Note
The TP on this setup is insane. I immediately faded it. what do you think?
Trade active
I see lots of bearish posts on TRON but I say let the chart speak for itself. I have a feeling a lot of bears are going to be left out of this run, which is good.
Trade closed: target reached
Here's a little bit more analysis on the most recent update if you're interested. Some chart analysts don't believe in lines (parallel, triangles, wedges, etc). But I'll show you here why they matter in charting.
1. The 1st and 2nd HLs are crucial in setting up the ascending triangle. Once that baseline is set, the trend line is gold standard. So it's officially 2 retests of the trendline. We need at least a third to seal it up (read more)
2. HL' (prime) labeled above is NOT a re-test of the ascending triangle. But a re-test of the 55MA, which is confluence but not the 3rd retest we're looking for here. So it's important to make this distinction.
3. The actual 3rd retest I labeled above, which is where we are today.
With a rejection happening at the top of the asending triangle, I expect a pull back in the form of a correction. But I believe that this late in the bull run, it will be a fakeout so bear liquidity is pulled. Hence why bears, as numerous as they are rn, are needed for the fuel.
Cheers
Note
Actual chart I'm referring to above
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