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Tronix

TRX PossibilityTRX Update: I think we saw a pretty classic 1-5 Elliot wave pattern, followed by an ABC correction. After that point, we had a HUGE 4 hour buy candle, which looks to have formed a bull flag. This bull flag is looking to have a decision point coming up, whether that be up or down from the apex. If it's up, and volume increases drastically, there could be the possibility that the vertical 4 hour candle could be the start of a new 1-5 EW pattern, which means the apex of the bullflag could represent the 2 wave being put in. If this has a chance of being accurate, that would be mean a large wave 3. The MacD just crossed, so we should be looking at a buy pattern, however volume has been very low with TRX right now. This also is pretty normal during bull flags, as they near the apex, so might be due to just that reason. We'll see what happens, but exciting times ahead for TRX either way, even if this isn't the time!
Long
by Pburke2323
TRX TRON Possible Rise - 3rd Wave Formation For a ZOOMED OUT view - see related ideas. If the last week has been an ABC correction, TRX might go for a 3rd Wave Movement. An ABCDE correction might still form, making it go back 480 sats. If that happens, we have more waiting to do, unfortunately. We have two short term resistances to pass right now before going up. Resistances (short term): 530 and 560 sats. Support: 480 and 430 sats. StochRSI on 1DAY candles is looking like it's about to go upwards. MACD on 6h candles crossed. Waiting on 12h and 1day to cross. Targets based on Fib Retracement: Target 1: 680 sats Target 2: 900 (possibly 1000, cause numbers and what-not) Target 3: 1200 sats
Long
by reynar
TRON!! WHAT DOES THE FUTURE HOLD FOR US!! WHY ARE WE DROPPING!?!Hello guys and welcome back to another TRX/ETH update on the 1-day candles. After my last one TA, it seems like some people want to know more and I think now is the time to re-look and re-adjust our view of the long-term market. I promise this time to be less over the top and to try and focus on the plethora of things I've indicated on my chart (I've indicated various points with Letters or Numbers which I will come back to in my analysis. To begin, we still have a strong resistance at .00012xxx TRX/ETH and a breakout above this would likely result in a huge pump, however, I don't expect this to happen until sometime around May 31 (with the release of the MainNet). Secondly, we have a strong rising support at the .0005xxx level, where the Exchange Rate mostly played around for a long while and if we ever drop under that again it would likely be very bad news. Now that we got that out of the way, its time to talk about the rest of what I've drawn. And before I do that I am fully disclosing that I am a Bull on TRX/ETH but that I do not like to miss out on flips so I always analyze both the good and the bad. This will be, for the most part, an unbiased analysis. To start with the good news (for longs). We are nearing a switch from the previous Bearish Momentum and are looking to have a rather Bullish turnover when looking at the Stoch RSI at Point B . We may also bounce off of the rising supporting RSI trendline which I have drawn out and indicated. This is very interesting because this line actually retraces back a couple months all the way back to November. What this means is that we have a good chance of bouncing off of it and having a nice run-up but also that we will eventually reach overbought conditions and drop below this trend-line. I will go more into this later on when I talk about general analysis but for now, I'm sticking to just analyzing what the indicators tell us. Next in line to talk about is what looks like a bull flag. In Japanese Candlestick Charting, there is something called the Rising Three Method which comprises of a large green bar (the one with the arrow pointing at it) followed by small-bodied sells or buys that trade within the prior green bars range (the Japanese say it should be three but Steve Nison (the person who introduced Candlestick Charting to the West) states that it can be greater than three). The flag also follows Western Indicators which state that a bull flag comprises of a strong volume buy followed by low volume playing within a range which is exactly what we see with our current flag. And lastly, while I have not included in the chart to save our eyes, the support line is also located at the .382 Fibonacci Retracement which could give us a good bounce if we bounce. Now that we've gone over some of the bullish indicators it's time to look and the bearish signs, of which there are not too many. The first one I noticed right off the bat is what looks like a Bearish MA cross from the 12-day close under the 25-day close indicated at Point A . This is not the worst thing in the world but it can invalidate the bull flag if the bull flag confirms. The second thing that is Bearish fundamentally is the fact that ETHUSD and BTCUSD are having their runs right now and while I won't analyze those coins right now I will say that if those prices rise our exchange rate can take a beating. The reasoning is quite simple, people want to flip into ETHUSD and take profits there while TRX decreases and then they'll come right back in. Thirdly, I don't know how strong our short-term support at .0007xxx is since we haven't been able to really confirm it, other than it lies near the .382 Fibonacci Retracement. Since I have no more room to write I will continue my post with an update. ALSO. PLEASE LIKE AND FOLLOW IF YOU WANT MORE. I KNOW YOU'RE READING (I have the most views on Tron updates)!!!!
Long
by RandomGuyTalkin
3